Four Hanjin tankers sold

Four Hanjin tankers sold

South Korea’s Woori Bank has sold four tankers owned by endangered Hanjin Shipping for $58.6m to claw back some debt.

Hanjin Shipping sought court receivership at the end of August and has since seen most of its assets put up for sale.

The four tankers were aged eight and nine years old.

Woori did not identify the buyers by name, merely stating they were a Hong Kong-based company. The ships should be handed over by the end of the year.

“Woori Bank’s successful sale of the vessels is expected to positively affect ship sales of other financial institutions,” the bank said in a statement. There are another 40 ships creditors plan to sell soon.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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