Update on Hanjin Bankruptcy

Photo from: www.shippingcontainers24.com
Photo from: www.shippingcontainers24.com

Following the August 31, 2016 filing for bankruptcy of the South Korean carrier Hanjin Shipping, an estimated $14 billion worth of cargo has been stranded at sea. Almost a hundred Hanjin (HJN) vessels have been denied access to ports around the world due to the uncertainty about who would pay docking fees, container-storage and unloading bills, according to The Wall Street Journal.

The Philippine agent of Hanjin has also recently announced the following instructions from their regional office:

a. All containers issued for export to be returned to CY

b. No further bookings from all origin ports; no HJN container will be loaded on any vessel

c. HJN containers at transhipment ports to be transloaded to another line’s box at customer’s expense

In line with this, we would like to assure all our clients that prior to Hanjin’s filing for bankruptcy, Blue Cargo Shipping Agency Philippines has stopped loading containers with them and is currently working with other shipping partners to ensure a reliable and uninterrupted service in moving your cargoes.

For future shipments, we recommend our clients and agents to refrain from using Hanjin to avoid inconvenience. However, for those who have containers currently loaded with Hanjin, kindly provide us the shipment details to assist you in coordinating shipment status with the HJN Philippine Agent.

For your information and proper guidance.

Thank you very much.