Independent journal on economy and transport policy
14:18 GMT+1
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HMM agrees with Korea Shipping salt and leaseback of ten portacontainer
They will be bought for about 130 million dollars. The understanding previews a compensation of the difference between the book value and fair market value of the ships
March 7, 2017
The company of South Korean navigation Hyundai Merchant Marine (HMM) has announced today to have agreed already preannounced taken sale and next the rental one of ten portacontainer of own fleet that will be bought by a special purpose company constituted from the Korea Maritime Shipping and Transportation Co., Ltd., the society instituted from the government of Seul with the scope to financially support national the shipowning field after the failure of the Hanjin Shipping that was the first South Korean company and seventh in the world in the field of the line transport ( on 14 February 2017).
The cession will happen within six months for a fee pairs to 150,4 billion won (130 million dollars). HMM has specified that, in order to compensate the difference between the book value and fair market value of the ships, the Korea Maritime Shipping and Transportation Co. it will introduce also vital for other 704,3 billion won in the Hyundai Merchant Marine, of which 600 billion through a convertibile bond loan and an increase of the share capital for 104,3 billion won.
The program of governmental support financial to the HMM moreover previews that in the next few months the company of South Korean navigation orders to national ship yards the construction of five portacontainer and two or three tanker.
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