Earlier this year Cido Shipping, the Korean car carrier, was said to be on the verge of clinching a deal with Hyundai Motor Co (HMC) to ship up to 20% of its annual output of around 1.8m cars.
Cido, owned by its president Hyuk Kwon, is an important supplier of tonnage to Eukor, with three-quarters of Cido's 48-strong fleet believed to be on charter to the combine.
