Tag - Hanjin Shipping sells

Hanjin Shipping sells Pacific route, related assets for 37 bln won

Hanjin Shipping Co. said Tuesday it has decided to sell parts of its container shipping businesses, including the US-Asia route and related assets, to Korea Line Corp. for 37 billion won ($31.4 million) as it struggles to secure much needed cash. In a regulatory filing, Hanjin, once the country’s No. 1 shipper, said it would hand over its Pacific shipping route business and related customer management and operation information, and subsidiaries and logistics management systems in the US, China, Vietnam [...]