Hyundai Merchant Marine (HMM) is said to have agreed on cutting charter rates with the majority of its overseas partners.
The troubled South Korean owner has reportedly managed to strike cost reduction deals with 21 of 22 companies which have fixed their vessels to HMM, Chosun Ilbo newspaper reported.
Danaos Corporation of Greece is among the companies to have reached agreement, although details have not been disclosed yet.
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