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Hanjin’s Ships Worth $1.7 Bln -VesselsValue

Maritime Activity Reports, Inc.

September 1, 2016

Photo: Hanjin Shipping

Photo: Hanjin Shipping

With Hanjin Shipping on the verge of bankruptcy, state run Korea Development Bank stated the shipper’s debt stood at more than $5 billion at the end of June.

 
However, Hanjin owns 63 vessels, worth today $1.7 billion, including live and newbuilding contracts, as shown by VesselsValue.
 
Hanjin Fleet
Vessel Type / Number of Vessels / Total Size / Total Value USDm
Bulker / 18 / 2,162,700 / $306.5 
Container / 39 / 283,286 / $1,394.4 
Small Dry / 1 / 10,400 / $6.9 
Tanker / 5 / 82,800 / $54.2 
Grand Total / 63 / X / $1,762.0 
 
Hyundai Merchant Marine (HMM) who is rumored to be interested in taking over Hanjin Shipping, owns 36 vessels worth $965.5 million.
 
HMM Fleet
Vessel Type / Number of Vessels / Total Size / Total Value USDm
Bulker / 15 / 1,985,500 / $283.3 
Container / 18 / 135,898 / $624.2 
Tanker / 3 / 402,600 / $58.1 
Grand Total / 36 / X / $965.5 
 
This would bump up the combined fleet value of HMM and Hanjin to $2.7 billion. Although this sounds like a lot, the merged Hanjin and HMM would rank 27th in the world in terms of total fleet value. For comparison, COSCOCS, who ranks first, has 786 ships worth $20 billion.
 
Hanjin ranks as South Korea’s largest container liner, owning 39 vessels with a total of 283,286TEU worth $1.4 billion. HMM ranks second with eight container vessels, holding 135,898 TEU, worth $624 million.

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