South Korean shipping group Pan Ocean is reportedly selling ships to raise funds to help its parent Harim Group bid for flagship box carrier HMM. So far, Pan Ocean has sold 10 ships this year, consisting of six chemical/products tankers, four bulk carriers, raising around US$132 million.
Sources from South Korea’s investment banking sector told Container News that Pan Ocean is pursuing the sale of three to four more ships, including two ships classified as scheduled for sale in the first half of...
https://container-news.com/pan-ocean-sells-ships-to-raise-war-chest-for-hmm-bid/