Hanjin Shipping bankruptcy

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.

 

 

25 Nov 2016
Collapse of Hanjin Shipping continues to take its toll on South Korea’s largest port.
22 Nov 2016
A Hanjin Shipping attorney told a federal court Tuesday that it has virtually no assets in the United States to compensate claimants who are fighting to preserve their claim rights if the court recognizes the carriers’ South Korean bankruptcy case.
22 Nov 2016
Cargo insurance company and several logistics companies also filed papers to protect their rights to make claims against Hanjin Shipping if a US bankruptcy court recognizes the carrier’s South Korean bankruptcy proceeding.
17 Nov 2016
The South Korean government is looking to the country's large multinational exporters to take a major role in turning around the fortunes of its struggling shipping sector.
16 Nov 2016
Hanjin Shipping spiraled closer to insolvency in the third quarter as Hyundai Merchant Marine turned a profit for the second straight three-month period as they plan for the future.
16 Nov 2016
Dry bulk carrier is set to acquire Hanjin Shipping's five 6,500-TEU ships, in an attempt to diversify its holdings.
14 Nov 2016
Cameron Roberts, partner at Roberts & Kehagiaras, offers ways drayage and trucking companies can protect themsleves from financial and legal exposure to Hanjin Shipping assets.
12 Nov 2016
Was October's truckload spot market spike an atypical surge or sign of increased underlying demand?
07 Nov 2016
Doubts that Hanjin Shipping wouldn’t join the THE Alliance began once the liner was placed in receivership Aug. 31, fueling speculation that HMM might take its place.
04 Nov 2016
More evidence of shippers’ engaging in a “flight to quality” by favoring container lines perceived to be stable following the Aug. 31 Hanjin Shipping bankruptcy came from Maersk Line's third-quarter results released this week.
03 Nov 2016
The Port of Long Beach will chip away at the backlog of empty Hanjin Shipping-leased containers in Southern California that has built up since the container line declared bankruptcy on Aug. 31 when a ship calls to pick up some of the empties.
01 Nov 2016
The judge hearing Hanjin Shipping bankruptcy motions in the United States has rejected a request by retailer Ashley Furniture to set up an “administrative freeze” on freight payments it owed to the carrier.
28 Oct 2016
Hyundai Merchant Marine is one of five bidders for the trans-Pacific and intra-Asia networks of bankrupt Hanjin Shipping.
27 Oct 2016
Terminal operators and stevedores make up the second-largest group of organizations making financial claims against bankrupt Hanjin Shipping.
27 Oct 2016
The fleet of idle container ships is racing to an all-time high.
26 Oct 2016
Anxiety over the staying power of container lines after the Hanjin Shipping collapse is thick among beneficial cargo owners, vendors, and the container lines.
25 Oct 2016
A federal judge on Tuesday allowed a chassis company to terminate leases with Hanjin Shipping.
24 Oct 2016
Hanjin Shipping is negotiating with the terminal operating subsidiary of Mediterranean Shipping Co. to purchase its TTI terminal in Long Beach, but MSC has a minimum annual financial commitment at another terminal in the port.
A container line's ships won't be empty if it goes under, making it harder still for shippers to see the signs they need to avoid disruption like that caused by Hanjin Shipping's insolvency.
22 Oct 2016
The collapse of the seventh-largest global container line in terms of deployed capacity sends a clear message: All bets are off.
21 Oct 2016
Creditors of Hanjin Shipping have just four days to make a claim against the troubled carrier.
Legal battles over cost and equipment liabilities related to Hanjin Shipping's bankruptcy continue to play out in courts around the world.
20 Oct 2016
The court is hearing issues related to the bankruptcy filing by Hanjin Shipping, which left its more than 90 ships and 500,000 containers around the world in limbo.
20 Oct 2016
A Hanjin ship just released from arrest outside the Panama Canal is one of two expected to stop at the Port of New York and New Jersey in the next week.
19 Oct 2016
The attorney for a fuel company with a lien for services provided to a ship operated by Hanjin Shipping has accused attorneys for the carrier of failing to report when the charter for the vessel was terminated.
19 Oct 2016
Trans-Pacific service contracts in early 2017 will have the shadow of Hanjin falling over the negotiations.
With so much capacity in the market, it is unclear who could benefit from the liquidation of Hanjin Shipping's trans-Pacific operations.
18 Oct 2016
Analyst questions the value to incumbent Asia-US operators of Hanjin's trans-Pacific network.
18 Oct 2016
Ashley Furniture asked the court to allow an “administrative freeze” on payments owed to Hanjin for services that were only partially provided as a result of the carrier’s failure to fulfill contractual obligations.
18 Oct 2016
Collapse of Hanjin Shipping highlights needed for better understanding of carrier risk.
17 Oct 2016
A chassis provider has asked a federal judge to cancel all its per-diem leasing agreements with Hanjin Shipping.
17 Oct 2016
"It is better to file an imperfect claim than no claim at all,” said Andrew Kehagiaras, partner in the Long Beach law firm Roberts & Kehagiaras.
14 Oct 2016
Hanjin Shipping’s failure put a noticeable dent in US import volumes.
14 Oct 2016
A Hanjin vessel released from arrest at Panama is one of three stopping at the Port of New York and New Jersey to deliver long-awaited cargo to the port in a four-day stretch.
13 Oct 2016
Hanjin Shipping has received permission from a South Korean court for the sale of the carrier’s assets in the Asia-US container trade.
The willingness of Total Terminals International's terminal in Long Beach, pictured, to accept Hanjin Shipping containers won't be enough to solve the problem of Hanjin boxes stranded throughout Southern California.
12 Oct 2016
A Long Beach container terminal's willingness to collect Hanjin Shipping containers only solves part of the problem.
12 Oct 2016
The fleet of idled container ships is soaring as bankrupt South Korean container line Hanjin Shipping returns chartered vessel.
Hanjin Shipping's T-46 terminal at the Port of Seattle, pictured, is one the locations on the US West Coast where shippers can drop off empty Hanjin-owned containers.
11 Oct 2016
Hanjin Shipping terminals in the United States will begin to accept empty Hanjin-owned containers.

Commentary

Some issues in ocean shipping are so predictable that you can plan for them, yet others are not so predictable.

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