Hanjin Shipping could still be sold, court says

Hanjin Shipping could still be sold, court says

The court in Seoul overseeing Hanjin Shipping’s receivership has said a sale of the company is one of a number of options it is considering.

Splash understands Hanjin’s rehabilitation plan will look to reshape the Korean line into an intra-Asia container player, selling its larger boxships and its dry bulk fleet. It has until December 19 to send in its rehabilitation plans.

With the South Korean government already saying it will not pump more money into the line, which is sullied by more than $5bn in debts, commentators are saying the most likely outcome for Hanjin is its best assets will be cherry picked by rivals and the remaining carcass will then be liquidated.

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.

Related Posts