Hanjin in talks to sell Long Beach Terminal Stake to MSC

Hanjin in talks to sell Long Beach Terminal Stake to MSC

Hanjin Shipping Co Ltd chose an advisor to seek a potential sale of its stake in Long Beach Terminal with the approval of the Seoul court overseeing the shipper’s receivership a spokesperson said on Friday

The collapsed line owns a majority stake in Total Terminals International LLC, which operates Long Beach Terminal, with MSC owning the remaining 46 percent.

A spokesperson for the court said it has appointed an advisor, an overseas firm specialising in shipping industry talks, to help with the negotiations.

Chairman of COSCO Shipping Xu Lirong had previously expressed interest in the terminal confirming that they were in early stage negotiations.

Whether these discussions are ongoing is not clear. Lirong could not be immediately reached for comment.

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