It has started receiving letters of intent from potential buyers, the Yonhap news agency reported.

HMM disclosed the information as a response to an enquiry from the Korea Stock Exchange.

The shipowner said nothing had been finalised, however.

Selection of preferred bidders and other details will be disclosed at a later date, it added.

In December, the shipowner said it was lining up a share sale, with Korean reports claiming it could raise as much as KRW 200bn ($180m).