South Korea’s Hyundai Merchant Marine (HMM) is seeking a buyer for its newcastlemax bulker newbuildings with the ink barely dry on the contract.
Market players say the company is offloading the pair of 206,000-dwt vessels booked at Bohai Shipbuilding Heavy Industry last month. They believe HMM is selling the ships to raise cash.
It ordered the newbuildings on the back of a 20-year contract of affreightment (COA) with domestic steel mill Posco for one of the vessels.
HMM
