Hanjin Group to Provide 100 Billion Won for Shipping Line

South Korea's Hanjin Group said on Tuesday it is planning to raise a total of 100 billion won ($90.46 million) on its own to fund unloading of cargo by Hanjin Shipping Co Ltd.

News ID: 68738

Date: 07 September 2016 - 09:32

According to MANA, Hanjin Group said it made the decision to "normalize the unloading of Hanjin Shipping's containers" to "minimize the damage to exporters and importers". Hanjin Shipping filed for court receivership last week.
Hanjin's receivership filing has prompted ports around the world to block access or refuse service to dozens of the company's ships on fears they won't be paid, stranding cargo.