Hapag-Lloyd hones in on South Korean carrier

Hapag-Lloyd hones in on South Korean carrier

August 22, 2023

The bidding process for the flagship carrier of South Korea, Hyundai Merchant Marine (HMM), which started on July 20 and ends today, August 21, is said to have Hapag-Lloyd as a strong contender.

The German line will be up against four Korean competitors in the bid-awarding process.

The privatisation of HMM started after state-owned entities indicated last month that they would withdraw as majority shareholders.

HMM has been controlled for the most part by local banks since 2016.

According to Singaporean supply chain news site, Splash 247, two of the Korean conglomerates vying for HMM are Harim Group and SM Group.

Respectively they run Pan Ocean and SM Line.

The other two contenders are LX Holdings and Dongwon Group.

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