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Hyundai Merchant Marine to acquire Hanjin Shipping

06 Sep 2016
Hyundai Merchant Marine is set to take over Hanjin Shipping, according to Korea Business. 

Hanjin is Korea’s largest and the world’s seventh biggest shipping carrier and is responsible for a large percentage of the country’s exports. 

It is estimated that Hyundai will have to spend between $270 million to $360 million on the asset acquisition. Hyundai will acquire 37 vessels and the rights to manage the Long Beach Container Terminal, the Gwangyang Terminal, and the HPC Terminal. 

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