Korea's Hyundai Merchant Marine (HMM) has dropped its joint bid for collapsed rival Hanjin Shipping's Long Beach terminal operation in the US.
This leaves partner MSC to go it alone in pursuit of the asset.
HMM said it will instead take a minority stake in Total Terminals International at a later date.
“Considering our low credit ratings, we thought it would be better for MSC to make a solo bid.
