ShippingWatch

South Korea prepared to let Hanjin Shipping default

Hanjin Shipping must either fend for itself or file for insolvency, say the South Korean authorities on Wednesday in an unequivocal message to the creditors of the company, which is facing a colossal need for capital.

Photo: Hanjin

South Korea's largest shipping and container carrier Hanjin Shipping, which is suffering under a colossal debt burden, must either solve its problems or enter insolvency. This is the unequivocal message set forth by the country's Financial Services Commission (FSC).

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

CMA CGM expects sharp decline in freight rates

The outlook for the container market looks somewhat more gloomy in the coming time, estimates French CMA CGM. However, the container shipping company still recorded growth on top and bottom lines in third quarter.

Further reading

Related articles

Latest news

See all jobs