Hard road ahead for Hanjin

2016 has been a year of struggle for Hanjin Shipping. The South Korean liner operator applied for court protection on 31 August after losing the support of local banks that were dissatisfied with its liquidity plan. With more than USD5 billion of debt, the liner operator's receivership has had widespread ramifications - for its shippers, tonnage providers and container carrier rivals. Keep track of the latest developments with Fairplay's dedicated Hanjin topic page.

News & Analysis

Yoo Chang-keun
24 Oct 2018
The Korea Development Bank will subscribe to USD878 million worth of bonds issued by Hyundai Merchant Marine as the South Korean liner operator seeks to bolster its cash holdings.
09 Sep 2016
Asia-Mediterranean spot rates spike as the sudden withdrawal of Hanjin services removes a big chunk of capacity.
09 Sep 2016
Seoul court wants KDB to get creative to improve Hanjin's cashflow.
08 Sep 2016
A growing fleet of ships will be deployed to recover Hanjin's stranded cargo.
08 Sep 2016
Seafarers on Hanjin's stranded ships are beginning to receive supplies after a Seoul court approved an application by the carrier.
07 Sep 2016
Hanjin Shipping detailed its business struggles in its filing for Chapter 15 protection in the United States.

Commentary

Concerns about Hanjin Shipping were flagged up long before the South Korean line filed for bankruptcy. The reason why BCOs were wrong-footed and why it took so long for Hanjin Shipping to collapse lies in its 4,000 creditors, a number that shows just how interwoven the threads of the shipping industry have become.

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