South Korean Hyundai Merchant Marine (HMM) is reported to be in talks with Taiwanese securities house Yuanta on the sale of the shipping company’s bulk shipping division.

The contract is estimated to be worth up to 350 billion Korean won (USD 315 million), according to the Seoul Economic Daily.

HMM has a fleet of 13 bulkers and expects to take delivery of eight more units until 2017.

The decision comes as South Korean shipping company endeavors to cut losses by selling assets to raise capital.

These included selling a shipping terminal in Busan, liquidation of its container terminals in the U.S. and LNG transport business in February last year among others.

World Maritime News Staff

Rolls-Royce has signed a GBP 5.5 million contract with Bastø-Fosen and Fjord 1 in Norway for azimuth propulsion systems for five new double ended ferries.

All five ferries are designed by Multi Maritime and will be constructed in Turkey at the yards Sefine, Cemre and ADA. The ferries are scheduled to enter into service along the coast of Norway in the summer of 2016.

These types of double ended ferries are designed to commute back and forth between ferry quays along the Norwegian coastline.

Three of the ferries are to be delivered to the company Bastø-Fosen and will be 142 metres long, with capacity for 200 cars, 600 passengers and between 24 and 30 trucks. The two remaining ferries are

Seguir leyendo