Data analysis provided by UK-based VesselsValue finds that a possible merger between Hyundai Merchant Marine and Hanjin Shipping is ‘not so lucrative’ as expected. Although their combined fleet will value of $2.1 billion, the companies after the merger will be ranked at the 38th position out of 5,000 global vessel operators.
Korea Herald reports that the merger between South Korea’s major container line and its larger local rival may be anticipated as a significant development, however, the estimate is not impressive.
“Even though this sounds a lot, the merged Hanjin & HMM company would only rank 38th in the world in terms of the fleet value.” was quoted as saying Claudia Norrgren, head of public relations at VesselsValue.
Furthermore, more experts argue that this merger seems highly unlikely got the companies considering Hanjin’s current status which has a 5.3 billion worth of debt.