Shipbrokers running for Korea Development Bank vessels

Collapsed Hanjin Shipping’s 16 vessels, worth about $300m in total will be sold by Korea Development Bank (KDB). Eight shipbroker companies have submitted applications to the Korea Development Bank (KDB) ship sale. Independently applied by Clarksons, Fearnleys, Maersk Broker. Howe Robinson, Arrow Shipbroking, Braemar ACM  and Simpson Spence Young are bidding in tandem with South Korean partners. Korea Development Bank (KDB)’s 16 vessels sale applications were due in at the start of this week and a selection is expected by the end of it. Korea Development Bank (KDB) is understood to have asked shipbrokers to advise on whether they should sell the vessels now or wait for further market improvement. South Korea’s largest shipping company Hanjin Shipping, filed for court receivership on 31 August 2016 after months of trying to raise liquidity and restructure its debt.