ShippingWatch

Shippers worry about container lines' financials and fear another Hanjin

Several shippers have begun fearing for the financial state of container lines once the world is past the corona crisis. Some fear that a new Hanjin situation will emerge, chair of the European Shippers' Council tells ShippingWatch.

Photo: Katinka Hustad

The fear of a new collapse in one of the container lines, as happened with South Korean Hanjin in 2016, is growing with several shippers.

The corona crisis is hitting the container sector hard because demand has slowed down dramatically in the West due to the coronavirus. This has prompted container lines to cancel a high number of sailings, with the number of voided departures on major container routes tripled in only a few days.

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