Hyundai Merchant Marine (HMM) and Korea Line have submitted bids for Hanjin Shipping’s Asia-U.S. route, according to Korea’s Yonhap News Agency and other media outlets.
Yonhap cited sources that said “in addition to the U.S.-Asia route, Hyundai Merchant and Korea Line might have submitted bids for Hanjin’s seven overseas operations, workforce and its (54 percent) stake in the Port of Long Beach, California, which could fetch up to 250 billion won (U.S. $29.4 billion) in total.”
Yonhap said the Seoul Central District Court plans to announce a preferred bidder next week and complete the sale before the end of the month.