Hyundai Merchant Marine on the verge of bankruptcy as creditors reject debt resc

[MSC Johnny 2]

http://felixstowedocker.blogspot.co.uk/2016/03/hyundai-merchant-marine-on-verge-of.html

[Captain Ted]

Interesting to read, and for shipowners a real bad situation, but then,,they all herded in the same direction without thinking ahead since years.
 

[MO Roy]

I wonder if HMM and Hanjin will merge.
They originate from two complete different conglomerates.
Interesting to see what will happen.
Cheers,
Roy

[Allan RO]

There have been rumours of possible merger, but both parties strenuously deny there is any possibility of it happening.  But for survival, long term, it would make a lot of sense.

Allan

[Captain Ted]

The problem with a merger is always before as a "lot of sense"  most of the time it is a problem when it happens. Remember Hapag and GP, after it was done it suddenly cost a lot. Maersk taking over Sealand , the transition was rather rocky and that it worked was because of Maersk,s deep pockets.  Fact is that most mergers have a major flaw,,that both "former" companies MANAGERS think they are the new bosses in the new company. On top of that, goodwill is often bought, Managers getting golden hand shakes to go and employees in lower ranks are send home sometimes by the 1000,s and of course without the golden !!!!

[MSC Johnny 2]

Interesting  comments - thank you