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News ID: 68796 |
Publish Date: 11:14 - 10 September 2016

Disruption at US ports due to Hanjin collapse

A report by the US Department of Agriculture (USDA) warns that disruption to ports and shipping caused by the failure could last two to three months.

Disruption at US ports due to Hanjin collapse
The report by the USDA noted that as a result of Hanjin’s filing for receivership there would be some impact/changes to trade between the US and Korea, MANA correspondent reported.
“It is almost certain that difficulties with port operation and shipping lines will occur for the next 2-3 months,” the report said.
While Hyundai Merchant Marine would be adding four 4,000 teu vessels to the Gwangyang – Busan – Los Angeles route this would not be enough to cover the full amount of freight that Hanjin had been handling.
Meanwhile a temporary bankruptcy protection order granted by a US judge earlier this week has failed to bring Hanjin ships into port to unload as had been hoped. Hanjin vessels remain at sea of the US West Coast and countries around the world, with reports that fuel and supplies are starting to run low.
The Korean shipowner is returning to the courts on Friday for hearings to make the bankruptcy protection order permanent.
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