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.

Webcasts

Midyear Trucking Report: Is a Rally or Retreat Ahead?
Aug 25, 2016 2:00PM EDT
12 Jul 2016
Hanjin Shipping continued its efforts to stay afloat financially by selling its shares in a Cai Mep, Vietnam, container terminal.
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
05 Feb 2016
South Korea’s Hanjin Shipping has introduced a new container service at Krishnapatnam Port, a fast-growing alternative, minor, cargo gateway on India’s southeastern coast.
02 Feb 2016
Hanjin Shipping edged into the black in 2015 with its $6 million net profit representing a half-a-billion dollar turnaround from the huge 2014 loss as the carrier managed to offset declining revenue with lower costs and the rationalization of service lanes.
02 Jan 2016
High debt levels at Hanjin Shipping and Hyundai Merchant Marine will make it difficult for the South Korean container lines to take advantage of their government’s new S1.2 billion fund to assist the country’s struggling shipping and shipbuilding companies.
28 Dec 2015
China’s Ministry of Transport has fined eight international container lines a total of $169,000 for failing to meet the freight rate guidelines set by the ministry.
16 Dec 2015
Five Asia-based container lines will expand a service in mid-February that connects to Australia, while another China-based line will also beef up its service to and from Oceania.
04 Dec 2015
In the wake of several highly-publicized financial difficulties experienced by South Korea shipping companies, the country’s Minister of Oceans and Fisheries has called on them to undertake voluntary restructuring.
26 Nov 2015
South Korea's government plans to conduct research on ultra-large container ships, including the return on investment of the vessels, their impact on ports and the investment needed at terminals to handle them.