About one-third of Hanjin’s ships have discharged cargo

A spokesperson from Hanjin told American Shipper Monday that 28 of the ships it operates have completed cargo unloading.

BY CHRIS DUPIN |MONDAY, SEPTEMBER 19, 2016 AMERICAN SHIPPER

About one-third of Hanjin Shipping’s 97 containerships have finished unloading cargo at ports around the globe as of Sunday, and another 34 of the South Korean liner carrier’s containerships are still stranded at sea, Yonhap News Agency reported.
A Hanjin spokeswoman told American Shipper Monday that 28 ships have completed cargo unloading.
Yonhap also reported that Hanjin was in negotiations to begin unloading cargo from ships in New York, Singapore and Mexico next week.
Several Hanjin ships have discharged cargo in Los Angeles, Long Beach and Oakland.
Yonhap said Hanjin is also set to return a total of 17 ships to their owners in the coming weeks as they plan to end leasing contracts.
Meanwhile, Reuters reported that a South Korean judge has ordered that as ships complete cargo unloading, their charter agreements should be cancelled and the ships should be returned to their owners. A judge at the Seoul Central District Court said current delays in cargo unloading are incurring more than $2 million in charter fees daily.
Korean Air Lines Co., the largest shareholder of Hanjin, is still undecided on whether to provide its pledged 60 billion won (U.S. $54 million) in cash to the country’s largest shipper, Reuters said.
Reuters also reported the airline said last week it would provide the funds in return for collateral, but “came under fire for its lack of commitment to help its shipping affiliate stay afloat.”
Last week, Hanjin secured $45 million from its chairman and a former chairwoman to help pay for unloading ships.
The ability of Hanjin to discharge cargo on the U.S. East Coast briefly came into question last Friday when the International Longshoremen’s Association said it would not work Hanjin ships or put containers on chassis until the company paid past due container royalties. However, later in the day, the union said it had agreed to handle Hanjin’s vessels.

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