Hanjin Shipping secures reduced charter rate deal

After several months of negotiations, Hanjin Shipping has now succeeded in landing an agreement with shipowner Seaspan for reduced charter rates. The carrier has also submitted a restructuring proposal.

Photo: Hanjin

Hanjin Shipping is currently racing the clock to avoid a bankruptcy, but the South Korean container carrier now looks to have secured a critical breakthrough in its rescue efforts.

News bureau Yonhap News reports that the carrier has managed to agree with container ship lessor Seaspan to reduce charter rates for several of the vessels leased to Hanjin by Seaspan on long-term charter contracts.

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

Further reading

Related articles

Latest news

See all jobs