by the end of this week

Hanjin Shipping set to submit 'self-rescue' plan

HANJIN Shipping, South Korea's biggest shipping line, is set to submit its financial status improvement plan by the end of this week to its key creditor Korea Development Bank.

News ID: 68416

Date: 26 August 2016 - 11:14

According to MANA,"We are waiting for Hanjin to give the self-rescue plan," a KDB representative told Lloyd's List.
An Hanjin Shipping official confirmed that the box carrier will submit a financial status improvement plan by the end of this week but could not say if it will include a liquidity injection by the Hanjin Group to its ailing shipping unit.
State-run KDB and creditor banks are pushing for Hanjin Group to help resolve its shipping unit's liquidity problems.
As of end 2015, Hanjin Shipping's debt totaled about Won5.6trn.