HMM, South Korea’s flagship carrier, has made a bid to reenter the gas trades, tabling KWN300bn ($233m) to take over its old company, Hyundai LNG Shipping.
HMM has been keen to diversify its earnings base and with the local private equity owners of Hyundai LNG Shipping putting the company for sale, the cash-rich liner has made its move.
Hyundai LNG Shipping, which was sold by HMM nine years ago as it hit troubled times financially, today has a fleet of 16 LNG carriers and six VLGCs.
