Hyundai Merchant Marine (HMM) is gearing up its efforts to take over assets from collapsed rival Hanjin Shipping with an offer for a Spanish terminal.
The South Korean company submitted a bid to acquire a stake in the Algeciras terminal, a spokesman told Bloomberg without elaborating.
Hanjin owns a 25% slice and South Korean institutions hold the rest.
Maersk Group’s APM Teminals is already operating in the region while China’s Cosco is said to be interested in investing.
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