Korea Line preferred bidder for Hanjin’s Asia-US operations
South Korean shipping company Korea Line has been chosen as the preferred bidder over Hyundai Merchant Marine (HMM) to buy Hanjin Shipping’s Asia-US operations.
Korea Line is believed to have proposed better conditions, including a higher bid than HMM.
The company’s bid included the purchase of Hanjin’s 54% stake in Total Terminals International (TTI), which operates Pier T at the Port of Long Beach, California.
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