Hanjin Shipping bankruptcy

Hanjin Shipping filed for bankruptcy protection Aug. 31, 2016, after months of trying to raise liquidity and restructure its debt, triggering a mad scramble by shippers to locate and gain control of their containers. Hanjin vessels have been arrested and ports are refusing to work Hanjin ships for fear they will not be compensated. Hanjin Shipping's collapse is by far the largest container shipping bankruptcy in history and the consequences will continue to reverberate throughout international supply chains and the transportation sector.

News & Analysis

22 Mar 2017
A federal judge has allowed a bank to foreclose on and sell its interest in more than 1,500 Hanjin Shipping containers to repay the bank for owed lease payments.
17 Mar 2017
The lessons to be learned from the collapse of Hanjin Shipping are almost too many to absorb.
16 Mar 2017
FMC Commissioner Daniel Maffei said he was “disappointed” to learn this week that the 2M and Ocean alliances had decided to forgo emergency funds to protect cargo.
10 Mar 2017
A shortage of ocean containers may spell transloading opportunity for US trucking companies.
06 Mar 2017
A federal judge on Friday gave the go-ahead to Maher Terminals at the Port of New York and New Jersey and the Georgia Ports Authority to dispose of Hanjin Shipping containers.
17 Feb 2017
The legal salvo is the latest sign of how Hanjin containers continue to disrupt the global container shipping market.

Commentary

The media tends to view every piece of shipping news as “unprecedented” or “unexpected,” but either is rarely the case.