Business | South Korea's Hyundai Merchant may bid for Hanjin Shipping

South Korea’s Hyundai Merchant may bid for Hanjin Shipping

Bid will be for US routes. Hanjin filed for receivership on August 31.

October 18, 2016 8:24 AM (UTC+8)

SEOUL (Reuters) – South Korean shipper Hyundai Merchant Marine Co Ltd said on Tuesday it is considering submitting a preliminary bid for Hanjin Shipping Co Ltd’s Asia-to-U.S. route operations.

The company had not yet made a final decision, a Hyundai Merchant Marine spokesman said. Hanjin put up the operations, which would include manpower systems, five container ships and 10 overseas businesses, for sale last week.

Hanjin filed for court receivership on Aug. 31 after its creditors cut off financial support for the firm.

(Reporting by Joyce Lee; writing by Se Young Lee; Editing by Stephen Coates)

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