Korea Line to acquire some Hanjin assets

South Korean bulk carrier Korea Line has signed a 37bn won (US$31.5m) deal to purchase some assets of Hanjin Shipping.

The deal, which is set to be completed on January 5, 2017, reportedly includes the business network and client information of Hanjin’s Asia-US route, as well as subsidiaries in seven countries comprising the US, China and Vietnam, and 574 workers based in South Korea and overseas.

Following Hanjin’s filing for court receivership in August this year, in November Korea Line was chosen as the preferred bidder over Hyundai Merchant Marine (HMM).