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.

 

 

29 Sep 2017
Sponsored: MSC's Dimitri Ruggiero, vice president of global accounts, on the top concerns of Mediterranean Shipping Company's customers following 2016-2017 market turmoil including the "Hanjin effect." He discusses the importance of a balance of business stability and diversity, and speculation on larger-ship orders. 
22 Aug 2017
The wake-up call to the cost of unsustainably priced freight sent by the demise of Hanjin Shipping may be short-lived.
08 Aug 2017
Creditors of bankrupt carrier Hanjin Shipping have filed claims that would give them only a tiny proportion of what is owed, a company attorney has told a New Jersey bankruptcy court.
12 Jul 2017
Cosco Shipping's Howard Finkel on its position, and response, as a CKYHE Alliance member during the Hanjin Shipping crisis. He also reports on culture of collaboration and integration process over the last year since the Cosco-China Shipping merger. 
SM Line to launch new intra-Asia and trans-Pacific services
03 Jul 2017
SM Line Corporation plans to add nine more vessels to its fleet by the end of this year.
22 Jun 2017
The unemployment rate of the global fleet continues to edge higher.
21 Jun 2017
Volatility in the shipping line industry will continue, and the expectation is that more consolidation is ahead, said Dr. Noel Hacegaba, the Port of Long Beach's chief commercial officer.
31 May 2017
The New York Stock Exchange-listed group’s net income tumbled.
26 May 2017
Prior to the collapse of the national shipping line, Busan was poised to supplant Hong Kong in global port rankings.
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.
14 Feb 2017
Aside from Hanjin Shipping, the Hanjin Group has a controlling share of Korean Air Lines, and its subsidiaries range from various logistics companies to universities.
07 Feb 2017
Shippers can do a few things to protect themselves from another Hanjin-like disaster on the seas.
01 Feb 2017
The deal includes all of Hanjin’s equity interests and shareholder loans in Total Terminals International.
30 Jan 2017
A pension fund for longshoremen at the Port of New York and New Jersey want permission from a bankruptcy court to seek companies related to the carrier who can help pay the debt.
30 Jan 2017
More than two-thirds of failed Hanjin Shipping’s fleet is still looking for employment.
19 Jan 2017
Hyundai Merchant Marine announced Thursday that it will buy a share of a company part-owned by Hanjin Shipping that operates terminals in Seattle and Long Beach
18 Jan 2017
A New Jersey judge allows Hanjin Shipping to sell its share of a company that operates terminals in Seattle and Long Beach
17 Jan 2017
SM Line will set sail without the help of an alliance.
14 Jan 2017
Creditors worried they won’t be properly compensated with the sale proceeds.
13 Jan 2017
Northwest Seaport Alliance receives guarantee it said it needed to withdraw its objection to sale of former Hanjin terminal in Seattle.
06 Jan 2017
Port of Seattle wants MSC to post a bond guarantee before being allowed to purchase Terminal 46.
04 Jan 2017
The trans-Pacific is one of the world’s most competitive container trades, with at least six container lines over the last six years having entered the trade lane only to pull out later.
27 Dec 2016
Hanjin Shipping’s US liabilities far exceed its US assets, the company told a New Jersey bankruptcy court Tuesday amid close scrutiny from a host of US creditors.
21 Dec 2016
A court in Seoul approved the sale of Hanjin Shipping’s stake in US port operator Total Terminals International to Mediterranean Shipping Co.
16 Dec 2016
Danaos, the Greek container shipowner, crashed to a net loss in the third quarter as the collapse of Hanjin Shipping shrank charter revenue.
14 Dec 2016
US logistics are jockeying in court to ensure they get paid for services provided to Hanjin Shipping in the wake of an auditor’s report that the carrier has little value and is likely headed for liquidation.
07 Dec 2016
TTI refuses to post security bond with Northwest Seaport Alliance.
07 Dec 2016
Global air cargo traffic grew at the fastest rate in 18 months in October, driven by several one-off factors, including the collapse of Hanjin Shipping.
01 Dec 2016
Risks surrounding rapid changes in carrier and terminal industries are a source of confusion for ports and shippers.
01 Dec 2016
As shippers scrutinize carriers’ financial stability ahead of the 2016 to 2017 bidding season, the safeguards could provide those that deal with the THE Alliance some reassurances — and give alliance members a contracting edge.

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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