Hanjin Bankruptcy Led to Heavy Losses, Write-Offs

Hanjin Shipping Co.’s financial troubles that led to bankruptcy a year ago stranded precious cargo, causing losses for trucking and other transportation companies.

Laurie Wiegler | Staff Reporter
August 24, 2017
Business, Equipment

Supply Chain Execs Explain Lessons Learned a Year After Hanjin Disruption

Truck with a Hanjin container at port Jim R. Bounds/Bloomberg News

On Aug. 31, 2016, the Hanjin Shipping Co. shut its doors, filing for bankruptcy protection and kickstarting a series of problems for port authorities, truckers, cargo owners, freight forwarders and equipment providers to solve on the fly.

Ari Ashe | Staff Reporter
August 24, 2017
Business, Logistics

The World’s Shipping Companies Are Going Super-Sized

A Maersk Ship kees torn/Flickr

A massive consolidation is underway in the $500 billion global industry and the survivors now enjoy big economies of scale and increased demand, one year after excess capacity caused the sector’s worst-ever crisis - the bankruptcy of South Korea’s Hanjin Shipping Co.

Kyunghee Park | Bloomberg News
August 16, 2017

South Korean Court Orders Shipping Giant Hanjin to Liquidate

Lucy Nicholson/Reuters

A court in the South Korean capital, Seoul, declared struggling shipping giant Hanjin officially bankrupt on Feb. 17 and ordered the company to liquidate its assets.

February 17, 2017
Business, Logistics

California Town Vows to Rid Itself of Hanjin Shipping Containers by Year's End

SeongJoon Cho/Bloomberg News

Ontario, California’s legal team vows that hundreds of abandoned shipping containers, illegally stored at four industrial yards in the agricultural southern part of town, will be gone by the end of the year.

Neil Nisperos | Inland Valley (Ontario, Calif.) Daily Bulletin
January 31, 2017
Business, Logistics

Hyundai Merchant Marine to Buy Minority Stake in Total Terminals International

Hyundai Merchant Marine will buy a 20% stake in Total Terminals International, agreeing to a $15.6 million deal with Mediterranean Shipping Co. on Jan. 19, one day after a U.S. bankruptcy court approved MSC’s purchase from the bankrupt Hanjin Shipping Co.

Ari Ashe | Staff Reporter
January 20, 2017
Business, Logistics

US Judge Approves Hanjin's Sale of Total Terminals International for $133 Million

Tim Rue/Bloomberg News

A U.S. District Court bankruptcy judge has approved a $133 million dollar deal between Hanjin Shipping Co. and a terminal operating subsidiary of the Mediterranean Shipping Co. to purchase a majority share in Total Terminals International.

Transport Topics
January 19, 2017
Business, Logistics

Port of Seattle May Block Sale of Bankrupt Hanjin's Waterfront Operation

Bari Bookout/Flickr

The Port of Seattle is objecting to the sale of the operations center at Terminal 46, where bankrupt South Korean shipping company Hanjin is trying to unload its business to one of the world’s largest cargo firms.

Mike Rosenberg | The Seattle Times
January 10, 2017
Business, Logistics

‘K’ Line Files Lawsuit Against APL Logistics for Spreading Rumors

Kiyoshi Ota/Bloomberg News

Kawasaki Kisen Kaisha, Ltd., or “K” Line, filed a lawsuit against APL Logistics Ltd. in a Tokyo civil court for comments the logistics firm made after the Hanjin Shipping Co. demise on Aug. 31.

Transport Topics
December 28, 2016
Business, Logistics

Hanjin Sells Stake in Total Terminals International to Mediterranean Shipping Co.

Tim Rue/Bloomberg News

Hanjin Shipping Co., the South Korean ocean carrier that filed for bankruptcy protection in August, has agreed to sell its stake in Total Terminals International to Mediterranean Shipping Co., according to Bloomberg News.

Transport Topics
December 20, 2016