Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

Korean shippers remain sluggish

From the Korea Joong Ang Daily:

It was August last year when leading domestic shipper Hanjin Shipping fell into court receivership. A year has passed but Korea’s shipping industry is still struggling to ride out the storm that sunk its biggest player.

After Hanjin’s bankruptcy in February, Hyundai Merchant Marine (HMM) became the top Korean […]

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THE Alliance sets up post-Hanjin insurance plan

On April 01 ‘THE Alliance’ of Hapag- Lloyd, ‘K’Line, MOL, NYK and Yang Ming, will launch 32 liner services to 75 major ports on trade lanes connecting Asia with the Indian Subcontinent, Middle East, Europe, North and Central America and the Caribbean.

And reminded of the sudden demise of Hanjin Shipping last August, they have […]

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Hanjin Shipping’s bankruptcy backfires on Korean shipbuilders

Global shipping giants reportedly are reluctant to place orders and are postponing the delivery of completed container ships because vessels that were chartered by the nation’s once-largest shipping line have been released into the market at lower prices.

According to industry sources on Sunday, the world’s largest shipping line, Maersk Line, placed a $1.1 billion […]

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ICTSI and Port of Portland splitsville

Excerpts from the Portland Tribune article subtitled ‘Terminal 6 lease terminated early; Elvis has left the building’:

The deadlock at the Port of Portland’s underused Terminal 6 just got a little closer to ending.

The Port and the company that runs the Terminal, ICTSI Oregon, have parted ways.

The two have mutually agreed to terminate […]

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Hanjin Shipping declared bankrupt as Port of Long Beach recovers

From the Los Angeles Business Journal:

As Hanjin Shipping Co. finally sank Friday, the Port of Long Beach looked to a future without its most important cargo carrier and former lease-holder of its largest terminal.

A South Korean court declared Hanjin bankrupt Friday, officially ending the company’s 40-year history in the global shipping trade.

[…]

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Maersk Line defers delivery of new container ships to prop up cashflow

From The Loadstar:

Maersk Line is to postpone delivery of nine newbuild 14,000 teu ‘utility’ ships with the last vessel to be received at the end of 2018, instead of at the end of this year.

Maersk Line says it does not need the ships as it is able to charter vessels of this […]

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Maersk biggest operator of former Hanjin ships, but two-thirds of fleet remains idle

From Seatrade Maritime:

Maersk Line is the largest operator of former Hanjin Shipping vessels, but more than two-thirds of the vessels from the bankrupt company’s fleet remain inactive, according to Drewry.

Of Hanjin’s fleet of 98 containerships, with a capacity of around 610,000 teu when it filed for receivership on 31 August last year, 31 […]

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Port of Seattle gives go-ahead to sale of bankrupt Hanjin’s local operations

From the Seattle Times:

After a brief spat, the Port of Seattle has dropped its objection to the sale of bankrupt Hanjin’s operations at Terminal 46 west of the stadiums.

The Northwest Seaport Alliance, which controls the ports of Seattle and Tacoma, said Friday it had struck a deal with the proposed new owners […]

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Seattle pushes for bond for former Hanjin terminal

Excerpts from the Journal of Commerce:

The Port of Seattle wants a financial guarantee for Terminal 46 lease payments.

The Northwest Seaport Alliance is attempting to block the sale of a terminal once owned by now-defunct Hanjin Shipping unless Mediterranean Shipping Co., the buyer, posts a security bond to protect the interests of the Port […]

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Container shipping costs skyrocket after Hanjin collapse

From Hellenic Shipping News:

Container shipping costs, which radically plunged, now shows signs of recovery after the fall of Hanjin Shpiping Co. The strategy of Maersk Line, the world’s largest shipping group which cuts down shipping fees until its competitors fall down and pick fruit when they are liquidated, seems to be working. As […]

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Bankrupt shipper Hanjin selling terminal operations at Port of Seattle

From the Seattle Times:

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 […]

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Hanjin Shipping inks deal to sell Port of Long Beach terminal to MSC

Hanjin Shipping Co. has signed a contract to sell its stake in the largest terminal at the Port of Long Beach to Mediterranean Shipping Co.

Hanjin, which was South Korea’s largest cargo container carrier and the seventh-largest in the world before its Aug. 31 bankruptcy filing, owns 54 percent of the company that operates Long […]

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Stranded Hanjin crew receives load of Christmas cheer that includes pig, tree, presents

The B.C. Ferry and Marine Workers’ Union, the International Longshore and Warehouse Union and the Victoria Filipino Canadian Association organized care packages for the crew, some of whom have been stuck on board the vessel for three and a half months after the shipping company Hanjin filed for bankruptcy in August. THE CANADIAN PRESS/Darryl […]

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Hanjin seafarers, still stuck on bankrupt ship, to receive holiday care packages

Hanjin Scarlet crew were able to take brief shore leave in September. Photo by Seafarers Mission Prince Rupert

From CBC/Radio-Canada

Care packages and carolers are on their way to the crew of the Hanjin Scarlet, some of whom have been stuck onboard their vessel in B.C. waters for three and a half months.

The […]

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ILWU solidarity helps Hanjin seafarers defend their right to shore leave

Chinese crew members from the Hanjin Seattle celebrate their shore leave. Customs officials changed their policy after solidarity efforts from the ILWU and support from lawmakers in Washington.

Crewmembers on foreign flagged vessels arriving at West Coast ports have frequently sought help from ILWU members and International Transport Workers’ Federation (ITF) inspectors.

“Sometimes we […]

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