A tugboat passes Hanjin Hungary container ship at PSA's Tanjong Pagar terminal in Singapore September 28, 2016. REUTERS/Edgar Su/File Photo

A tugboat passes Hanjin Hungary container ship at PSA's Tanjong Pagar terminal in Singapore September 28, 2016. REUTERS/Edgar Su/File Photo (Copyright Reuters 2016)

Hanjin Shipping picks advisor to sell Long Beach Terminal stake

Features Reuters

Hanjin Shipping Co Ltd <117930.KS> chose an advisor to seek a potential sale of its stake in Long Beach Terminal, a spokeswoman said on Friday.

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Hanjin Shipping chose the advisor with the approval of the Seoul court overseeing the shipper's receivership, the spokeswoman said, declining to name the advisor.

The collapsed shipper owns a majority stake in Total Terminals International LLC, which operates Long Beach Terminal.

A spokesman for the Seoul Central District Court could not be immediately reached.

(Reporting by Joyce Lee; Editing by Stephen Coates)