SM Merchant Marine

SM Line refutes talk of HMM takeover

SM Merchant Marine, also known as SM Line, has told Container News that it does not harbour any ambitions of acquiring its fellow South Korean rival HMM, after it purchased more shares in the latter.

On 29 December 2021, SM Line, which the Samra Midas group established from acquiring the operations of bankrupt Hanjin Shipping, paid US$14 million for another 613,438 of HMM’s shares. That took its total holdings in HMM to 0.49%.

Another SM group company, Korea Shipping Corporation, has a 0.44%...

https://container-news.com/sm-line-refutes-talk-of-hmm-takeover/

SM Line adjourns IPO due to bearish stock market

SM Merchant Marine, also known as SM Line, has delayed its initial public offering (IPO) after weak demand from institutional investors.

Announced today, the decision came after consulting lead underwriter NH Investment & Securities, as investor sentiment remains muted due to Covid-19 and the weak growth of shipping stock prices.

The IPO postponement happened a day before retail investors were invited to subscribe to the stocks.

SM Line hoped to raise up to US$722 million through a listing on the...

https://container-news.com/sm-line-adjourns-ipo-due-to-bearish-stock-market/

SM Merchant Marine provides extra capacity to support Korean SMEs

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/