Hyundai Merchant Marine has agreed a cut in its charter rates to 2.53 trillion won ($2.19 billion), or a 21% cut. This comes as part of an equity-for-revenue swap with shipowners, according the the Korea Economics Daily. This comes a day after the Korean government created an 11 trillion won fund to support the industry, … Continue reading “HMM Swaps Revenue for Equity as Price of Lower Share”