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Kawasaki Kisen Kaisha (K Line) and Hanjin Shipping have announced an agreement on purchasing each other's stock. K Line will purchase about three per cent of Hanjin Shipping's shares and in turn Hanjin will also purchase a similar amount of K Line stock as capital investment.

This reciprocal stock purchase is expected to further strengthen the partnership between the two shipping giants. It may be noted that both the shipping lines are partners of the much larger alliance, CKYH (Coscon, K Line Yang Ming Line and Hanjin Shipping) Alliance, that is in global containership business. The new arrangement is expected to contribute greater cooperation among the alliance partners.

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