Korea: Korea's Largest Shipping Company Files for Court Receivership

  |   Attaché Report (GAIN)

Contact:

Office of Agricultural Affairs, Seoul   |   (011-82-2) 397-4297

Hanjin Shipping, the largest shipping company in Korea (7st largest shipping company in the world), filed for court receivership on August 31, 2016. It is almost certain that difficulties with port operation and shipping lines will occur for the next 2-3 months. Some U.S. ag products, such as citrus, are historically reliant on Hanjin. Some importers have had to supply additional collateral to get perishable Hanjin shipped cargo released. U.S. exporters are encouraged to ensure that their brokers and shippers are arranging alternative transportation methods. We anticipate that these shipping difficulties will moderate as additional capacity comes online and as the Korean shipping industry gains a better handle
on Hanjin’s situation. 

Korea: Korea's Largest Shipping Company Files for Court Receivership

Exporting
East Asia and the Pacific, South Korea

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