Hanjin Shipping Holdings News

Hanjin-chartered Ships Sold, More on Block

Three bulk carriers sold charter-free at about market rates. Two Hanjin container ships also up for sale. Three ships chartered to Hanjin Shipping Co Ltd have been sold and two more vessels are up for sale, ship brokers said on Wednesday, kicking off an asset sale sparked by the failure of the world's seventh largest container shipper. Around $14 billion of cargo has been tied up globally as ports, tugboat operators and cargo handling firms worried about not being paid refuse to work for Hanjin, which filed for receivership in a Seoul court on Aug 31. While some ships have been offloaded since then, bottlenecks are forming at some ports and truck yards as containers pile up.