HANJIN SHIPPING LINE RECOMBINE PLAN WAS ACCEPTED ,CKYHE START TO CHOOSE THE PARTER

- May 06, 2016-

In the last firday ,after submitting the application to  Korean Industrial Bank  (KDB) who is the main creditors , HanJin shipping line has received the approval of the creditors of its voluntary restructuring.

HanJin shipping line said in the statement , we can get the approval of the creditors is essential to our reorganization and business relationship normalization . We will work closely with the creditors in the shortest time to achieve business normalization.

Hanjin shipping line have total of 56000 billion Won (about 4 billion 900 million U.S. dollars) debt , and has been with the owner to negotiate lower prices .Meanwhile they sale of bulk cargo ship business, container terminals and construction and other assets . In November last year,HanJan has plans to sell 22.2%of the shares held by H-line shipping ,a total of 3billion including the bulk shipping business and LNG transport business Earlier this years ,Hanjin companty sold in London office building that total of 66 billion 700 million South Korea won (US $57 million 200 thousand) .

In addition ,in the end of month HanJin shipping line confirm will continue cooperate with union CKYHE till to Mar of 2017 . As COSCO and Evergreen is added to the Ocean alliance , The CKYHE alliance will choose cooperation partner again when  after the end of the remaining member of the Kline, Yangming and Hanjin


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