Maersk targeting Hanjin and Hyundai in new acquisition strategy

Copenhagen

AP Moeller-Maersk A/S's container line, which this month ditched a strategy of building new vessels and will instead try to grow through acquisitions, is targeting South Korea's two biggest shipping firms, according to Jefferies International Ltd.

Hanjin Shipping Co last month filed for bankruptcy protection and Hyundai Merchant Marine Co is in the middle of a creditor-led debt-restructuring programme. Both are in need of a strong partner and Maersk Line, the world's biggest, is probably the only rival with the financial muscle to manage a takeover, David Kerstens, Jefferies' transport analyst in London, said.