Hanjin Shipping

Hanjin Shipping

Hanjin Shipping is the world’s ninth-largest container shipping company worldwide and number one in Korea, with a fleet of 200 vessels. Founded in South Korea in 1949, Hanjin is present in 60 countries with approximately 6,000 employees.

Hanjin Shipping — an operating company of Hanjin Shipping Holdings — posted revenue of KRW 9.88 trillion in 2013, down 2.9 percent from the previous year. The company posted a net loss of KRW 307.6 billion, up 53.3 percent from the previous year’s net loss of KRW 143.6 billion.

Hanjin Shipping was the fifth-ranked container carrier in U.S. containerized import trade in 2013, with volume of 1,150,210 TEUs, up 5.2 percent year-over-year, giving it market share of 6.4 percent. It was No. 7 in U.S. containerized export trade in 2013, with volume of 611,128 TEUs, up 10.1 percent year-over-year and market share of 4.8 percent. For more carrier rankings see the JOC’s Top 40 Container Carriers special topic.

Weekly wrap-up for Aug. 30, 2014
30 Aug 2014
Members of the International Longshore and Warehouse Union ratified a new collective bargaining agreement with grain handlers in the Pacific Northwest, ending a two-year battle between the two parties.
Maersk Kampala
29 Aug 2014
Global schedule reliability has declined for the first time in six months, as carriers continue to deal with congestion in North Europe and the U.S. West Coast, according to a new report from SeaIntel Maritime Analysis.
20 Aug 2014
Overall capacity operated by the Top 21 container carriers increased 5.6 percent or 847,000 TEUs in the last 12 months, according to industry analyst Alphaliner’s latest newsletter, furthering chronic overcapacity in the container shipping market.
Hanjin Milano in Boston
11 Aug 2014
Sunny weather and the beginning of the busy shipping season aren’t the only reasons the Port of Boston is excited about the month of August.
31 Jul 2014
Interim result season is in full swing, and the financial reports reveal carriers in the container-shipping industry searching for a silver lining.
Container vessel Hanjin Lisbon
30 Jul 2014
Hanjin Shipping posted a net loss of $194 million in the second quarter, but the weak financial performance was eased by aggressive cost cutting in its container division that managed to lift the Korean carrier’s operating profit.
03 Jul 2014
Hanjin Shipping will rake in almost $300 million from the spinoff of its dry bulk business, allowing the loss-making Korean carrier to remove a significant portion of debt as it continues to restructure the company.
02 Jul 2014
WASHINGTON — U.S. Federal Maritime Commissioners yesterday unanimously voted to allow CKYH partners and Evergreen Line to discuss cooperating in the trans-Pacific and trans-Atlantic trades.
24 Jun 2014
The worst is over for the Asia-Europe container trade as slow-steaming and scrapping of old vessels begin to address excess capacity, according to a recent report from HSBC’s transport analysts.
17 Jun 2014
The rejection of the P3 shows how dominant the world’s largest carriers were set to become if their proposed mega-alliance took effect.
Terminal 6 at the Port of Portland
02 Jun 2014
Longshoremen engaged in illegal work slowdowns at the Port of Portland from September 2012 to June 2013 as they were contesting jurisdiction for jobs handling refrigerated containers, a National Labor Relations Board administrative law judge ruled at the weekend.
15 May 2014
An aggressive focus on operating efficiency is reflected in the first quarter results of Neptune Orient Lines, Hanjin and Hapag-Lloyd, although the savings were not enough to offset the effects of excess capacity, high bunker prices and weak freight rates that continue to plague the industry.