Judge Orders Hanjin To Return Ships
A South Korean Judge Monday ordered Hanjin Shipping Co. to return all its chartered ships to their owners as part of its bankruptcy proceedings, a company executive said.
Hanjin filed for bankruptcy Aug. 31 and recently began unloading cargo at ports across the globe, after being denied access for several days.
The South Korean carrier will finish discharging all the cargo on its 63 leased vessels, then return them to their owners, said Mike Radak, chief operating officer of Hanjin Shipping America. He said Hanjin plans to bring the 41 vessels it owns back to South Korea.