Tag: Hanjin Shipping

Hyundai Merchant Marine (HMM) and Geneva-based Mediterranean Shipping Company. (MSC) are expected to enter the takeover battle for the Long Beach Terminal of Hanjin Shipping

Hanjin’s receivership represents the trough of the container shipping market and despite continuing concerns of weak trade growth and fleet oversupply a gradual market recovery is now expected, according to Drewry.

Hanjin Seattle's crew has been granted shore leave on its arrival at the US port of Seattle, according to the International Transport Workers’ Federation (ITF).

Port of Long Beach container volumes declined 16.6 percent year-over-year in September. The number of containers handled during September was impacted not only by reduced calls by Hanjin-operated ships, but also by the absence of Hanjin containers on vessels.

According to shipping consultancy Drewry, Hanjin’s bankruptcy leaves the proposed carrier grouping THE Alliance at a size disadvantage to both its future rivals. Might a replacement be called up?

Global maritime welfare charity The Mission to Seafarers has offered to help Hanjin Shipping in providing welfare support to its 2,500 seafarers onboard 97 container ships.

The Container Owners Association issued industry alert regarding the filing by Hanjin Shipping for bankruptcy advising a list of owners of various types of containers (with prefixes) which were previously on lease to Hanjin.

A potential supply chain meltdown resulting from Hanjin Shipping’s bankruptcy has been averted at the Port of Oakland. The Port has said that it will receive empty containers owned by the ocean carrier, which filed for bankruptcy protection.

Hanjin Shipping Co, the world’s seventh-biggest container shipper, operating some 70 liner and tramper services and transporting more than 100 million tons of cargo annually, is currently in the wake of the collapse, which will probably spark fresh consolidation among container lines as they attempt to ride out the shock waves buffeting the industry.

Spot container freight rates on the major routes from Asia soared by up to 42% today following the collapse of Hanjin Shipping, according to data from Drewry’s World Container Index.