] Hyundai Merchant Marine
may be the sole bidder for Hanjin Shipping
’s Asia-US route, industry sources said on Oct. 27.
HMM, which is currently under a creditor-led restructuring program, is planning to submit a preliminary bid for Hanjin’s lucrative route, the sources said.
Potential bidders are required to submit their bids by Oct. 28. A final bidding is scheduled for Nov. 7.
Hanjin Shipping is seeking to sell its assets in an effort to survive an industry-wide slump and cash shortage.
Earlier this month, Hanjin’s route, seven overseas operations, and five container ships were put on the auction block.