Hanjin’s creditors say no to more funding

According to Chris Dupin of American Shipper, “The future of Hanjin Shipping looks grim, with numerous media outlets reporting lenders are refusing to extend additional credit to South Korea’s largest container shipping company and the seventh largest in the world”

Scarbrough also received information today indicating that Hanjin’s approach to renegotiate their charter fees with ship owners was unsuccessful. Hanjin is now informing that all services will stop as of September 4, 2016, which means we will no longer be making bookings with Hanjin.

Scarbrough will keep our clients updated as we continue to monitor the situation.

To read more, visit American Shipper