Hyundai Merchant Marine and Hanjin re-negotiated merger
- Author:Simon
- Source:Global Logistics Network
- Release Date:2016-01-27
South Korean shipping company's debt situation caused two serious concern industry, the South Korean government stated that these two shipping companies will not sit idly by operating state. Last year, Hyundai Merchant Marine and Hanjin merger meeting for the first time, the current merger negotiations again.
In order to improve liquidity, the two shipping companies have to sell assets, Hyundai Merchant Marine It is the entire bulk carrier fleet shelves for sale. Just a few days ago, the Korean private equity group Hahn announced that the acquisition price will be $ 500 million in Hyundai Merchant bulk fleet.
Hyundai Merchant Marine and Hanjin Shipping This year are faced with more serious debt burden, which Hyundai Merchant Marine and Hanjin must repay 120 billion won (1.0008 billion US dollars) and 24 billion won, respectively, public debt in late April and July this year, in addition, this year also Hanjin to repay 600 billion won debt.
Two shipping companies are very high debt ratio, Hanjin Shipping up 687 percent debt ratio, Hyundai Merchant Marine is 980%.
Last November, news that the Korean government will formally discuss the proposed merger of Hanjin and Hyundai Merchant Marine. According to sources, it has been suggested that there is no need to simultaneously maintain two nationally representative shipping company meetings. Earlier South Korean government has proposed the two companies merge through informal channels, but was refused. Some analysts believe that the South Korean government asked the two companies will be disclosed restructuring.
However, the South Korean government is unlikely to intervene again to help. Earlier, South Korean marine and fisheries sector and financial services committee also stressed that any merger would be voluntary and can not be promoted by the government.
An official from the Korean financial regulators hospital, said: "The government's past support for funding as naught, we can not go on like this, and more importantly, must first make every effort to achieve the desired goal."
Founded in 1977 Hanjin Shipping It is a subsidiary of Hanjin Group, is South Korea's first shipping company, is South Korea's largest shipping company. Hyundai Merchant Marine is a subsidiary of Hyundai Group, the main company, South Korea's second-largest shipping company.
According to Alphaliner statistics, Hyundai Merchant Marine and Hanjin once the merger, will become the world's fourth-largest container shipping company, the capacity exceeded 100 million TEU, beyond Evergreen Marine, Asia's largest container shipping company. Merger making it in the Pacific Ocean in a very favorable position, it can push Busan South Korea's main port to grow rapidly.
According VesselsValue.com in November 2015 statistics, the two shipping companies merged entity among the world's 19th largest shipping company, joint fleet worth more than four billion US dollars.
In order to improve liquidity, the two shipping companies have to sell assets, Hyundai Merchant Marine It is the entire bulk carrier fleet shelves for sale. Just a few days ago, the Korean private equity group Hahn announced that the acquisition price will be $ 500 million in Hyundai Merchant bulk fleet.
Hyundai Merchant Marine and Hanjin Shipping This year are faced with more serious debt burden, which Hyundai Merchant Marine and Hanjin must repay 120 billion won (1.0008 billion US dollars) and 24 billion won, respectively, public debt in late April and July this year, in addition, this year also Hanjin to repay 600 billion won debt.
Two shipping companies are very high debt ratio, Hanjin Shipping up 687 percent debt ratio, Hyundai Merchant Marine is 980%.
Last November, news that the Korean government will formally discuss the proposed merger of Hanjin and Hyundai Merchant Marine. According to sources, it has been suggested that there is no need to simultaneously maintain two nationally representative shipping company meetings. Earlier South Korean government has proposed the two companies merge through informal channels, but was refused. Some analysts believe that the South Korean government asked the two companies will be disclosed restructuring.
However, the South Korean government is unlikely to intervene again to help. Earlier, South Korean marine and fisheries sector and financial services committee also stressed that any merger would be voluntary and can not be promoted by the government.
An official from the Korean financial regulators hospital, said: "The government's past support for funding as naught, we can not go on like this, and more importantly, must first make every effort to achieve the desired goal."
Founded in 1977 Hanjin Shipping It is a subsidiary of Hanjin Group, is South Korea's first shipping company, is South Korea's largest shipping company. Hyundai Merchant Marine is a subsidiary of Hyundai Group, the main company, South Korea's second-largest shipping company.
According to Alphaliner statistics, Hyundai Merchant Marine and Hanjin once the merger, will become the world's fourth-largest container shipping company, the capacity exceeded 100 million TEU, beyond Evergreen Marine, Asia's largest container shipping company. Merger making it in the Pacific Ocean in a very favorable position, it can push Busan South Korea's main port to grow rapidly.
According VesselsValue.com in November 2015 statistics, the two shipping companies merged entity among the world's 19th largest shipping company, joint fleet worth more than four billion US dollars.
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