South Korea’s oldest shipyard Hanjin Heavy Industries & Construction (HHIC) is making a comeback in commercial shipbuilding after getting a new owner.

The shipyard is said to be in discussions with several shipping companies over containership newbuildings, including Germany's MPC Capital.

The Busan-based shipyard, which has not contracted any commercial newbuildings since 2014, is targeting the large boxship segment amid a market of rising newbuilding prices and a dearth of berths at yards, according to shipbuilding players.