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Hanjin Shipping to get $140m loan from Korean AirHanjin Shipping to get $140m loan from Korean Air

South Korea-based Hanjin Shipping will receive a loan of KRW150bn ($140m) from Korean Air, a major shareholding of the shipping firm.

Lee Hong Liang, Asia Correspondent

October 31, 2013

1 Min Read
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In return, Hanjin Shipping Holdings will be pledging Hanjin Shipping shares to Korean Air.

Hanjin Shipping said this decision has been made by the board of directors of Hanjin Shipping, Hanjin Shipping Holdings and Korean Air to “overcome current liquidity problems.”

“Hanjin Shipping will continue to work on various measures to improve liquidity and strengthen balance sheets,” the company said.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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