Pan Ocean parent lodges bid for HMM

A second suitor has emerged lining up bids for HMM, South Korea’s flagship carrier.

Harim Group, which controls local owner Pan Ocean, has joined forces with private equity investment firm JKL Partners, submitting a joint bid yesterday.

SM Group, which controls SM Line, is also lining up to take control of HMM, now that state creditors have started a sell-off process of the carrier. Other bids are expected in the coming four weeks of the tender process.

The long-mooted sale of HMM is one of a number of Korean shipowners to be put up for sale this year.

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