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

HMM CEO Yoo Chang-keun (left) and DSME CEO Jung Sung-leep (right)
24 Aug 2018
HMM is on track to receive financial aid from KDB and KOBC for newbuildings, but local media reports say the handout may fall short.
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.
01 Sep 2016
Vessel owners are looking to Hanjin customers to try to recover unpaid chartering fees in the wake of the liner operator's bankruptcy proceedings.
01 Sep 2016
Hanjin customers have been left scrambling to find a way to retrieve their containers stuck in port or on ships at sea, and it will cost them.

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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