From the Loadstar:
Hanjin Shipping said (that) its four main European centres will close this week or early November according to the regulatory filing.
In total, Hanjin operates from some 10 offices in Europe and employs 250-300 people in sales and operational roles – probably many more indirectly, in sub-agencies and service roles.
Hans-Peter Becker, [...]
The following message from International President Robert McEllrath is published in this month’s Dispatcher:
ILWU International President Robert McEllrath
You may have heard that I don’t have much patience for politicians, especially ones who want our help when they’re desperate for votes or contributions – then ignore us when we need their support.
I liked [...]
Excerpts from Transport Topics:
Container traffic at the two biggest West Coast ports was mixed in September, with a significant drop in Long Beach because of the Hanjin bankruptcy but a gain in Los Angeles, which had less exposure.
The Port of Long Beach reported that longshoremen handled 546,805 industry-standard 20-foot equivalent unit containers, [...]
Excerpts from Reuters:
The collapsed Hanjin Shipping Co Ltd could not compete against global rivals that were supported by their governments, the chairman of its parent firm told a South Korean parliamentary hearing on Tuesday.
“Hanjin Shipping lost the game of chicken played among large shippers,” Hanjin Group chairman Cho Yang-ho told the hearing.
From ABC 7:
For the first time since last month, a Hanjin cargo vessel is arriving at the Port of Oakland, almost two weeks to the day since the South Korean shipping company declared bankruptcy.
“They’ll have to pay the cargo handling fee in order to retrieve those containers but they will have the ability [...]
From the OC Register:
One of the nation’s busiest seaports will set aside extra room on its docks to accommodate some of the estimated 7,000 cargo containers with nowhere to go after the collapse of Hanjin Shipping Co., officials said Wednesday.
“I think within the next day or so, we’ll have issued entitlements to our [...]
From the Long Beach Press Telegram:
A second Hanjin vessel will dock and unload at the Port of Los Angeles after more than a week stranded off the Southern California coast, according to the Marine Exchange of Southern California.
The move raised hopes that gridlock could be easing after a U.S. bankruptcy judge issued an [...]
Authorization for the Hanjin Greece to enter the port came after bankruptcy courts in the United States and South Korea cleared the way for the company to spend $10 million to unload cargo from four ships headed for ports on the U.S. West Coast.
“We’re looking forward to getting these ships unloaded, said [...]
South Korea’s cash-strapped Hanjin Shipping Co. is adrift at sea — and in more ways than one.
Hanjin is one of the world’s biggest shipping lines and filed for bankruptcy protection last week in Seoul. That’s created a bizarre situation on the high seas for 85 Hanjin ships that have been effectively marooned offshore as [...]
Maersk Line and MSC, who make up the 2M network, have moved to snaffle up business that was previously controlled by defunct Hanjin Shipping.
Maersk Line is introducing a new service between Asia and the United States West Coast starting on 15 September. The TP1 service will be calling Yantian, Shanghai, Busan and Los Angeles/Long [...]
Because Hanjin, the world’s seventh-largest shipping line, cannot pay ports and terminals to unload, ships filled with merchandise have sat idle for days. As of Sunday, officials said one massive container ship was still drifting 50 miles south of the Long Beach and Los Angeles ports; another ship was anchored at the Port of [...]
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South Korea’s biggest shipping line has declared bankruptcy and it’s created a mess at the Port of Oakland.
With Hanjin now bankrupt, shipping terminals aren’t accepting the containers, unless someone pays up [...]
The Seattle Times reports that ”The South Korean government declined to step in and prevent the collapse, an unusual setback for a unit of a powerful Korean conglomerate.”
From the Seattle Times:
Northwest Seaport Alliance spokeswoman Tara Mattina said this morning that Terminal 46 at the North Harbor (Seattle), Hanjin’s main home here, is [...]
LA Times reports that Hanjin, ”like other large shipping lines, has struggled with overcapacity brought on by a massive ship building boom and sluggish demand.”
From the Los Angeles Times:
Hanjin Shipping Co. vessels are languishing off the ports of Los Angeles and Long Beach, delaying the delivery of goods following a bankruptcy filing [...]
Excerpts from Bloomberg:
Hanjin Shipping Co. is hardly a bellwether in the world of container movers. As lenders halt all support this week, the South Korean company is now emerging as a symbol of the slump that has plagued the industry since the global financial crisis.
Creditors led by Korea Development Bank will [...]