SM Korealine Co., a shipping unit of South Korea’s SM Group, revealed on Monday […]
The post LNG-bunkering vessel cleared for autonomous navigation appeared first on Offshore Energy.
https://www.offshore-energy.biz/lng-bunkering-vessel-cleared-for-autonomous-navigation/
Samra Midas Group, parent of HMM’s compatriot peer SM Line, has U-turned on its plan to acquire the state’s interest in South Korea’s flagship container carrier.
It is understood that SM Group did not submit a bid for HMM when entries closed on 21 August, even though its founding chairman Woo Oh-hyun was the first to make known his intention to acquire the company.
HMM came under state control in 2016, after exchanging its debt to policy lender Korea Development Bank, for equity. As HMM achieved...
https://container-news.com/sm-group-reverses-hmm-takeover-dream/
As the contest to take over HMM intensifies, SM Group, parent of the South Korean flagship carrier’s compatriot peer SM Line, has bought more HMM shares to increase its stake.
Sources in the stock market stated that one of SM Group’s subsidiaries, Dong Ah Construction, had purchased 500,000 HMM shares for KRW10 billion.
SM Line and its affiliates now hold 6.66% of HMM, up from 6.56% last month. The SM group began buying HMM shares in January 2022, but had denied any intention of taking over the...
https://container-news.com/hmm-sale-saga-sm-group-buys-more-shares-as-takeover-battle-intensifies/
SM Group has enough financial ammunition to buy the country’s No. 1 container shipping line HMM Co. but would not join the bid for the latter’s controlling stake if its price tag is more than 4.5 trillion won ($3.5 billion), said the chairman of South Korea’s 30th-largest conglomerate, reports The Korea Economic Daily.
Race for HMM“[SM Group] will immediately jump into the race for HMM once its sale is officially announced,” SM Group Chairman Woo Oh-hyun said during an...
https://mfame.guru/this-shipping-giant-to-buy-hmm-but-not-for-over-3-5-bn/
Samra Midas (SM) group has consolidated its position as HMM’s third-largest shareholder after its subsidiary SM Line bought more HMM shares to grow the group’s stake in South Korea’s flagship carrier to 6.29%.
On 30 June, SM Line announced that it had purchased 3.77 million shares for KRW100 billion (US$76.6 million), extending an acquisition spree that started last December.
Although SM Line does not intend to revive its Korea Exchange listing, which was pulled last November, a company...
https://container-news.com/sm-line-strengthens-hold-over-hmm-with-more-shares-purchased/
SM group, comprising SM Line and its affiliates, has become HMM’s third largest shareholder after buying a substantial number of shares on 20 June.
In a filing to South Korea’s Financial Supervisory Service, SM Line said that the shares are held by itself and its related entities, namely Korea Shipping Corporation, SM Hi-Plus, Woobang Construction, STX Construction and Korea Line Corporation.
SM group chairman Woo Oh-hyun owns 1.29 million shares.
SM group now owns 5.52% of HMM, just behind state...
https://container-news.com/sm-line-ups-hmm-stake-to-5-52-denies-acquisition-ambitions/
SM Merchant Marine has signed a Memorandum of Understanding (MoU) with the Korea International Trade Association to expand overseas export routes for domestic small and medium-sized enterprises (SMEs).
SM Merchant Marine, an affiliate of SM Group’s shipping division, decided to participate in this ship support in order to fulfill its responsibilities as a national shipping company while domestic SMEs continue to suffer from shipping delays due to port congestion caused by Covid-19.
The...
https://container-news.com/sm-merchant-marine-provides-extra-capacity-to-support-korean-smes/
SM Group, a midsized South Korean conglomerate, said Thursday March 14, that it has no plan to merge its shipping line with the country’s leading shipper, Hyundai Merchant Marine Co.
Instead, it will aim for a turnaround this year, and seek to open routes linking to Europe and other regions.
“We don’t have any merger plan with Hyundai Merchant, and the move is unhelpful to both firms,” the group said.
Read more on Yonhap News.
The post SM Line denies merger with HMM appeared first on Container News