November 25 - South Korean bulk carrier Korea Line - which is owned by the Samra Midas (SM) Group - has acquires the Asia-USA operation of bankrupt Hanjin Shipping.

According to reports, Hanjin Shipping signed a contract to sell its Pacific operation for KRW37 billion (USD31.45 million) to Korea Line.

The Seoul bankruptcy court, which is handling the reorganisation of Hanjin Shipping, has endorsed the deal.

It is understood that Korea Line will take on Hanjin Shipping's ground staff in South Korea and its overseas staff.