- Bloomberg reports that A.P. Moeller-Maersk A/S is very likely to target the assets of bankrupt Hanjin in a move that would propel the company on its acquisition mission. A successful takeover of Hyundai and Hanjin would strengthen Maersk's position in the Trans-Pacific.
- Last week, Maersk signaled its intent to focus on acquisitions as a means of growth.
- The South Korean shipper is planning to file a restructuring plan in Korean Courts by Dec. 23. This timeline strikes a judge as moving too quickly for U.S. creditors.
To say the Hanjin bankruptcy has thrown shipping into an uproar is an understatement. While some in the industry search for the silver lining, others see disaster and a sign of more turbulent waters.
Enter Maersk and its appetite for growth. Taking over what is left of Hanjin allows Maersk to grow without building or purchasing new ships and other equipment.
But what about the small to medium companies left in Hanjin's wake? Consolidation is but one ripple effect. CMA CGMI expects small and medium sized shippers may find they may need to join with larger companies to stay viable.