South Korea’s Hanjin Shipping, one of three major companies that calls on Seattle’s Terminal 46 near the stadiums, filed for bankruptcy protection at the end of August, worrying local retailers about the fate of their cargo. Hanjin had been delivering about three major shipments per week to the Port — nearly one-third of the traffic at Terminal 46 — and owned the company that operated the terminal.
But now Hanjin has agreed to sell its majority stake in the terminal operating companies at the Seattle and Long Beach, Calif., ports for $78 million, according to bankruptcy court filings from last week. The deal doesn’t spell out the cost breakdown between the two ports, though the Long Beach facility is more than four times bigger than the Seattle terminal.
