The share price of Hyundai Merchant Marine (HMM) soared on the Seoul exchange today after Daewoo Shipbuilding & Marine Engineering (DSME) revealed it had taken a 2% stake.

Sang-Tae Nam
The strategy behind the acquisition was not detailed but it may be an attempt to strengthen a relationship that began with HMM placing a $678m order for five 13,100 teu mega containerships earlier this month.

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