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.
Generic hanjin ship side
05 Sep 2016
Collapse of Hanjin will raise concerns about the reliability and creditworthiness of container operators, say Arctic Group's Stavseth and Wikborg.
Hanjin Rome was arrested in Singapore
05 Sep 2016
Hanjin Shipping confirmed to IHS Fairplay on Monday that it has filed for Chapter 15 protection in the United States to prevent creditors from arresting its ships in that country.
05 Sep 2016
Hanjin fallout mounting for Korea's largest port and transhipment hub.
03 Sep 2016
Ships on charter to Hanjin, more than 60% of its fleet, should not be at risk of arrest.
One of Hanjin Shipping’s ships, Hanjin Rome, has been arrested in Singapore.
02 Sep 2016
The Seoul Central District Court has approved Hanjin Shipping’s application for receivership, and South Korea’s largest shipping line will begin the arduous task of declaring its claims and protecting its assets.


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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