Hanjin Shipping bankruptcy timeline: How did we get here?

Hanjin Shipping bankruptcy timeline: How did we get here?

Shippers may have woken up Aug. 31 wondering where their Hanjin Shipping cargo was, but there were plenty of foreboding signs leading up to the seventh-largest container line being placed into receivership. With industry executives and analysts warning Hanjin won’t be the latest casualty of overcapacity before the market rebounds  — a recovery is not expected to begin for at least a year — savvy industry watchers are wise to note the signs warning of trouble at South Korea’s largest container line. Keep up with the latest developments on the crisis with our dedicated Hanjin Shipping bankruptcy page.

For further reading on events mentioned in the timeline, see below:

2008-2009 Financial Crisis and Hanjin Shipping

Hanjin slips into the red until 2015

Container ship fleet hits record 20 million TEUs in 2015

Asia Europe spot rates hit record lows in June and October 2015.

2016 Spring contract season

Hanjin gives up management control

Charter talks begin

Payments missed

Creditor support fades