NEGOTIATIONS have broken down between near bankrupt Hyundai Merchant Marine (HMM) and shipowners over lowering charter rates ended without agreement.
Talks to avoid bankruptcy of Hyundai Merchant Marine fail NEGOTIATIONS have broken down between near bankrupt Hyundai Merchant Marine (HMM) and shipowners over lowering charter rates ended without agreement. "We have no options but to file for court receivership if the shipowners do not cut their fees," said Korea Development Bank spokesman Park Chan-ho, reported the Korea Times. According to a number of Korean media outlets the containership owners on Wednesday broke off the talks with HMM. It was not clear from these media reports how many charterers took part in the talks, although, some put the number at five, reported American Shipper.
