Meanwhile, HMM announced in a Korea Exchange filing on 6 October that its dedicated dry bulk shipping businesses and HMM America, which owns two HMM-operated container terminals Los Angeles (California United Terminal) and Tacoma (Washington United Terminal), have been amalgamated under Hyundai Bulk Line, a new entity that HMM created on 23 September. HMM and Hyundai Bulk Line will then issue “Hybrid Convertible Bonds”, in an effort to boost the group’s liquidity.