The bankruptcy of the Hanjin shipping line has thrown ports and retailers around the world into confusion, with giant container ships marooned and merchants worrying whether hundreds of tonnes of goods being carried by the South Korean company will reach shelves. The company filed for bankruptcy protection on Wednesday and stopped accepting new cargo. With its assets frozen, ships were refused permission to offload or take aboard containers because there were no guarantees that tugboat pilots or stevedores would be paid. Hanjin is the world’s seventh-largest container shipper and the news left cargo headed to and from Asia in limbo. There were reports that some Hanjin ships had been seized in China on behalf of creditors. ....more here: https://www.theguardian.com/busines...nkruptcy-causes-turmoil-in-global-sea-freight http://www.usnews.com/news/business...tcy-causes-global-shipping-chaos-retail-fears
One man's poison is another man's meat . The freight rates are going up. The problem is, that more than half a million boxes are stuck on chained (by creditors) and rejected (by harbours) ships all over the world. We have one of their 1000 ft box carrier blocking a loading position here in Hamburg too. Plus one more 1000 ft box carrier on fire, means 2500 ft of quay wall are blocked for us. But life would be boring if everything would be easy.
...this was posted on another forum I participate in.... I was unaware that they owned Korean Airlines,...one of my favorite airlines for my travel to Thailand
We have. 40' container stuffed with iPad cases that is stuck. Thank goodness we air shipped the iPhone 7 cases.
Hyundai Merchant Marine Buys Hanjin https://www.porttechnology.org/news/hyundai_merchant_marine_buys_hanjin
The closest to corroborating this was a Reuters article saying that Hyundai may be buying some of Hanjin's healthy assets.