The Korean container carrier set a timeframe of May 16 for responses from its ship owners on its final notice.
Key ship owners in the negotiations include Danaos (13 vessels), Zodiac Maritime (six), Navios Maritime Partners (five), Capital Ship Management (five) and Eastern Pacific Shipping (five). Hyundai Merchant Marine operates a total of 116 vessels, of which 83 are leased from foreign ship owners. Hyundai Merchant Marine and Danaos have agreed to lower lease fees. The company is hammering out differences with Zordiac Maritme.
A creditor bank official said the ship owners were informed of the company’s normalization plan that includes debt rescheduling and lease fee adjustment based on due diligence results and a letter to request the lease fee reduction will be sent with a response deadline by May 16.