Korea Development Bank, the main creditor of the dissolved Hanjin Shipping Co. and state-owned entity, has put 10 Hanjin vessels up for sale in order to source back elements of its extended loans, reports Yonhap. According to the sources…
The Seoul Central District Court Thursday decided to end the bankruptcy protection of Hanjin Shipping Co. Ltd (Hanjin Shipping), leaving the company to succumb to a declaration of bankruptcy later this month, Yonhap reported. Hanjin, once…
Wook Chung, former General Counsel at Hanjin Shipping America, has joined the maritime and transportation practice of law firm Montgomery McCracken. Chung will serve as Of Counsel in the firm’s New York office. As General Counsel at Hanjin Shipping America…
South Korean shipping line Hyundai Merchant Marine Co. (HMM) said it will buy a fifth of the company that runs the biggest container terminal at Long Beach Total Terminals International terminal (TTI), Calif., the U.S.’s second-largest port…
Slowed by industry headwinds and challenges that included major customer Hanjin declaring bankruptcy, the Port of Long Beach said it moved almost 6.8 million containers in 2016, its fifth best year ever. Overall cargo declined 5.8 percent in 2016 compared to 2015…
Bankrupt South Korean shipping company Hanjin will sell its operations of the Port of Seattle’s Terminal 46 to Switzerland-based Mediterranean Shipping COmpany (MSC) subsidiary Terminal Investment Limited (TIL), reports AP. The Seattle Times…
The cost of transporting containers from ports now shows signs of recovery after the fall of Hanjin Shpiping Co after a period of down play, says a report in Business Korea. It appears that the strategy of Maersk Line, the world’s largest…
The Port of Long Beach’s Harbor Commission on Wednesday approved an agreement to replace the bankrupt operator of its largest cargo terminal.The Long Beach Board of Harbor Commissioners greenlighted the move by a subsidiary of Mediterranean Shipping Co…
The Long Beach Board of Harbor Commissioners will consider a proposal by a terminal investor to take over a majority stake in a long-term lease to operate the largest container terminal in the Port of Long Beach. If approved, the pact could…
South Korean ocean carrier Hanjin Shipping Co. signed a deal to sell its stake in the U.S. port operator that runs Long Beach, Calif.’s, biggest container terminal to Mediterranean Shipping Co. (MSC), reports WSJ. Hanjin, which for bankruptcy protection in August…
Hyundai Merchant Marine Co. (HMM) expects its profitability to improve slightly in the first quarter of next year on the back of an improvement in freight rates and its cost-cutting measures, reports Yonhap, quoting its chief executive Yoo Chang-keun…
Danaos Corporation reports its results for the third quarter of 2016 in the aftermath of the bankruptcy of Hanjin Shipping, one of Danaos' large customers. Danaos' CEO Dr. John Coustas says: 'As a result of the bankruptcy, we did not recognize…
Barry Parker dissects one the most disruptive events ever to impact the intermodal supply chain. There is more pain to come, lessons to be learned – and corrections applied. The Hanjin Shipping debacle, brewing over time and seeing a full blown eruption in late August…
CMA CGM, the world's third-largest container shipping company, posted on Friday another net loss in the third quarter as freight rates remained weak and it integrated Singapore-based NOL, its biggest-ever acquisition. The sector was showing…
Shares of U.S. shipping companies shot higher again on Wednesday, causing volatility halts in a number of stocks and raising questions among investors and analysts over the extent of their sharp post-election rally. The jump in share prices…
