Kawasaki Kisen Kaisha (‘K’ Line) and Hanjin Shipping Co have announced an agreement on purchasing each other’s company stock.
‘K’ Line will purchase about 3% of Hanjin shipping’s stock, and Hanjin will purchase a similar amount of ‘K’ Line stock as capital investment.
According to a statement issued by Hanjin, this reciprocal stock purchase will further solidify partnership between the two companies, and the CKYH Alliance in the global containership business will continue to enjoy its unprecedented solidarity and an even greater spirit of co-operation in the future.