Hanjin reduces fleet by returning chartered ships to owners

Collapsed South Korean container carrier Hanjin Shipping is scaling down its fleet by returning some of its chartered vessels to their owners, including container ships as well as bulkers. The carrier plans to return 13 more container ships.

Photo: Hanjin

Hanjin Shipping Co., the South Korean container line that sought bankruptcy protection last month, is cutting its fleet by returning some chartered vessels to their owners as it struggles for survival.

The troubled company already returned four box movers and three bulk carriers to their owners, and plans to remove 13 more container carriers, Hanjin said in an e-mail Monday. In addition, one shipowner has messaged the company saying it plans to take back a container ship from the Seoul-based liner, which had 141 vessels including 97 container ships as of September 11.

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

Shipping in a safe position despite shaky world economy

Container carriers are facing a couple of difficult years, but otherwise the shipping industry looks set to do well despite dark clouds over the world economy, according to shipping analyst. ”Right now, most companies are making a lot of money.”

Further reading

Related articles

Latest news

See all jobs