Hanjin Shipping Co., South Korea’s largest container line that has put its Asia-U.S. business on sale after filing for bankruptcy protection in late August, won approval from a court to wind down its European operations as demand for its services to the continent slumped.

A South Korean court will receive bids by November on the sale of the marketing network of Hanjin Shipping Co.’s Asia-U.S. operations as part of efforts to raise funds for the indebted company.

The Seoul Central District Court overseeing the receivership filing of Hanjin Shipping Co. is considering a disposal of the sales and marketing network of the container line’s Asia-U.S. operations as part of efforts to raise funds for the indebted company.

Hanjin Shipping Co., the South Korean container line whose filing for bankruptcy protection roiled the global supply chain, could have survived if creditors had provided the company with aid, Group Chairman Cho Yang-ho said.

The South Korean court overseeing Hanjin Shipping Co.’s receivership is considering a sale process for the entire container line, a month after the debt-laden company’s filing roiled supply chains worldwide.

Hyundai Merchant Marine Co., South Korea’s second-largest container line, surged in Seoul trading after the company was said to be looking at some assets of troubled rival Hanjin Shipping Co. for a possible acquisition.

Korea Development Bank, the main lender to Hanjin Shipping Co., offered a conditional credit line of 50 billion won ($45 million) to help ease supply chain disruptions caused by the collapse of the nation’s biggest container mover.

Hanjin Shipping Co., the South Korean container line that sought bankruptcy protection last month, received a court advisory to return all chartered vessels to cut costs while the company is in the midst of reducing its fleet.

Hanjin Shipping Co.’s vessels are getting stranded at sea after the South Korean container mover filed for court protection, roiling the supply chain of televisions and consumer goods ahead of the holiday season.

China Cosco Holdings Co., Asia’s largest container shipping company after a government-led merger last year, posted a loss in the first half as excess capacity dragged down cargo rates.