South Korea's Hanjin Shipping Co Ltd is selling major businesses, including its Asia-U.S. route network, and will receive letters of intent by October 28, the company said on Thursday.
In a regulatory filing the company said a Seoul court overseeing its receivership process approved a public auction of the major businesses, and it is to get binding bids from interested parties by November 7, after a due diligence process.
Reporting by Joyce Lee
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“Due to the COVID-19 pandemic, the global container market grew only 1.5% from 171.0 million TEU in 2019 to 173.5 million TEU in 2023.
Abnormal liner wear and seized or broken piston rings can result in costly consequences.
AST has developed and grown, increasingly providing full-service network solutions, far beyond traditional satellite services.
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