Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
HomeMaritime NewsRegionsAsiaKorea Line faces desliting as sales talks collapse

Korea Line faces desliting as sales talks collapse

Korea Line faces desliting as sales talks collapse
Seoul: Korea Line Corp (KLC) is now facing threats of delisting after a preferred bidder for the shipowner withdrew from the negotiation table over differences.

Private equity fund Hahn & Co had conducted due diligence and requested for debts guaranteed by KLC to be resolved. Hahn had offered KRW145bn ($134m).

KLC, which accumulated massive debts of approximately $942m, filed for court protection in early 2011 after it failed to renegotiate contracts for its chartered vessels.

The shipping company is not finding alternatives to avert a delisting from the Korea Stock Exchange to minimise losses for its shareholders.

TAGS: Dry Bulk Finance & Insurance
Related
Karrie Trauth, Senior Vice President, Head of Shipping and Maritime for Shell
Act today to reduce emissions ahead of new fuels says Shell
Apr 19, 2024
Port of Rotterdam from the air
European ports contend with slow economic growth, geopolitical impact
Apr 19, 2024
Rio Tinto bulk carrier in port
Rio Tinto to test Alfa Laval air lubrication technology
Apr 19, 2024
YGT - EPS Hydromover & Lake Herman.jpg
Eastern Pacific targets first Singapore cargo delivery by electric ship
Apr 18, 2024