The Korean owner wants to raise up to KRW 690bn($643m) from the sales in order to secure support from creditors, according toa local news report.
As much as KRW 200bn could come from thedisposal of some bulkers and issuing securities backed by long-term shipcontracts of afreightment (COA), business daily Maeil says citing unnamed market sources.
“Hanjin Shipping has signed COA withcreditworthy shippers such as Korea Electric Power Corporation (KEPCO) andPOSCO, so it will be able to collateralize the COAs for liquidation,” a sourcetold Maeil.
