• October 1, 2016
    Last updated 3 minutes ago

shipping

All Hanjin Shipping chartered vessels to be returned to owners after unloading

World’s seventh-largest container line filed for receivership last month, leaving more than 100 ships and their cargo at sea

Reuters
16:30 September 19, 2016

Seoul: All Hanjin Shipping Co Ltd chartered vessels that have completed unloading their cargo have been told to cancel their charter agreements and return the ships to the shipowners, a South Korean judge said on Monday. Hanjin, the world’s seventh-largest container line, filed for receivership last month, leaving more than 100 ships and their cargo at sea and threatening to snarl US freight traffic as the year-end shopping season approaches. Dozens of Hanjin’s ships have been blocked from docking with ports and lashing firms fearing they won’t be paid. Some vessels have also been seized and some sold. The company had a total of 141 vessels, including 97 container ships as of early September. Out of the 97 container ships, 60 were chartered and 37 owned by Hanjin.