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.

17 Jun 2016
Hanjin Shipping's efforts to secure lower charter rates have taken a hit.
28 Apr 2016
The struggles of South Korea's largest container lines have created a new top shipowner in the country.
22 Apr 2016
Hanjin Shipping wants its main creditor, the Korea Development Bank, to take over management of the company to restructure its debts and streamline its operations.
29 Mar 2016
Container lines are unlikely to go under despite freight rates falling to historical lows and zero freight being offered on some routes out of Asia, with governments and creditors expected to step in and salvage failing carriers, believes Drewry.
17 Mar 2016
Hanjin Shipping will replace its joint pendulum service connecting the U.S. West Coast to Asia and the Mediterranean with an exclusive Hanjin-supplied service as the carrier restructures its network in the face of surplus capacity and weak demand.
09 Mar 2016
The CKYHE Alliance is reorganizing its service network for Asia-Europe and Asia-Mediterranean trades as the carriers try to counter the weak demand and excess capacity that is plaguing the route and dragging down freight rates.
07 Mar 2016
Hyundai Merchant Marine and Hanjin Shipping would stand a better chance of surviving their crushing debts if the carriers were merged, something that Drewry believes is now a distinct possibility.
Hyundai New York container ship
29 Feb 2016
Hyundai Merchant Marine has once again rejected speculation of a merger with fellow South Korean carrier Hanjin Shipping and clarified the role of a financial adviser serving the ailing ocean carrier.
24 Feb 2016
Hanjin Shipping is seeking to offload a variety of assets to remain solvent ahead of the maturation of $406 million in debt in the first half, according to a report from Yonhap News, a South Korean newswire.
19 Feb 2016
Korea Investors Service, a credit rating agency in South Korea, has placed Hanjin Shipping on a watchlist for a potential downgrade as it struggles to cope with a down market across its business segments, particularly containers and dry bulk.
16 Feb 2016
CMA CGM and Cosco are leading efforts to create a new vessel-sharing alliance that could include Evergreen Line and OOCL and would shake up three of the four major east-west carrier groupings, the Alphaliner newsletter reported.
16 Feb 2016
Fifteen leading ocean container carriers, including Maersk Line, Mediterranean Shipping Co. and CMA CGM, have offered to change their practices for setting freight rates to settle an antitrust probe, the European Commission said Tuesday