Report: HMM to Diversify Position in Korean Shipping Acquiring SK Shipping

HMM, which itself was the subject of takeover talks a year ago, is poised to consolidate the South Korean shipping industry. According to a report in Business Korea and other media outlets, HMM has been selected as the preferred bidder to acquire control of SK Shipping, Korea’s leader in energy shipping. The deal aligns with HMM’s declared strategy to expand beyond its primary operations in container shipping.

SK Shipping was started in 1982 and remained a part of the SK Conglomerate until being acquired in 2018 by investment group Hahn & Co. Since then, the company has been reshaped shedding old ships…