Report: HMM Still In Race for Long Beach Terminal

South Korean ocean carrier Hyundai Merchant Marine (HMM) is still in the running to buy a majority stake in an operator of a container terminal at California’s Port of Long Beach, currently held by its bankrupt compatriot Hanjin Shipping, the company’s CEO Yoo Chang-keun was reported as saying.

Last week, it was reported that HMM decided to pull out of a joint bid with the Mediterranean Shipping Company (MSC) to acquire a 54 percent stake in Total Terminals International (TTI), and go for a minority stake in the operator instead.