Danaos has USD 560 million trapped in Hanjin

Shipowner Danaos has eight container ships on charter with Hanjin Shipping for a contract exposure worth a total of USD 560 million, informs the company. CEO John Coustas is disappointed that the creditors did not help Hanjin more.

Photo: Mark Lennihan/AP/Polfoto/Arkiv

The Greek shipowner Danaos has a considerable amount of money stuck in Hanjin Shipping, which has entered court receivership.

The company informs in a statement that it has eight vessels on long-term charter contracts with the South Korean carrier, and these contracts were worth USD 560 million as of June 30th 2016.

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