Hanjin Shipping gets money from its Chairman

The current Chairman of Hanjin Shipping has now transferred USD 36 million to the collapsed carrier in order to help fund the costs of unloading its vessels. The Hanjin receivership is the Lehman Brothers of shipping, says Seaspan CEO.

BY OLE ANDERSEN

The Chairman of Hanjin Group, Cho Yang Ho, transferred USD 36 million to Hanjin Shipping to contribute to the cost of offloading the containers which are stranded on the carrier's vessels. Meanwhile, the former Chairman and member of the dynasty behind the now-collapsed container carrier, Choi, Eun-young, has transferred close to USD 9 million out of her own pocket.

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Hanjin Shipping gets money from its Chairman

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Here is the timeline for Hanjin Shipping's collapse

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Sign up for our newsletter

Front page now

Maritime & Merchant notes fierce competition in loans for shipping

14 arrested at demonstration in front of Maersk headquarters

Norwegian car carriers bag multi-year contracts

IMO's fossil fuel ban in the Arctic faces criticism

Record influx of container ships this year will not cause trouble until 2025

Cosco and CMA CGM expect further pressure on major European ports

Kuehne+Nagel triggers unrest among staff with new management structure

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Less than one percent of the container fleet is currently idle

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Analysis: Capesizes have become too expensive despite strong market

UK Chamber of Shipping calls for more trade-friendly policies

Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Analysis: Capesizes have become too expensive despite strong market

Jobs