Harim's proposed $4.9 billion acquisition of HMM is facing financial concerns as credit rating agencies question Harim's ability to fund the deal. Harim plans to rely on Pan Ocean, a company it owns majority shares in.
Shipping companies reported better-than-expected third-quarter earnings on global port congestion and higher rates.
A consortium led by Kanglim, an equipment maker run by underwear company Ssangbangwool, was the only bidder in a Monday auction for cash-strapped budget carrier Eastar Jet.
Ocean freight rates are up as much as threefold on year, and the firmness of pricing could remain and help Korea’s shippers for the rest of 2021.
Korea JoongAng Daily Sitemap