Shipping giant insolvency worries importers, exporters
The bankruptcy of Hanjin Shipping Global has surprised the world’s freight & forwarding market and caused alarm among Vietnamese goods owners. The international press has reported that the Hanjin Shipping Global, one of the world’s 10 largest shipping firms, has filed for bankruptcy in the South Korean court. The representative office of Hanjin Shipping Global in Vietnam has announced that it stopped receiving booking on August 31, 2016. The heavy debt of $5 billion sunk the giant. Many Vietnamese goods owners said the bad news was a big blow. “Hanjin’s sudden filing for bankruptcy has made us unable to respond to emergencies. Goods went aboard, but we don’t know if we can get the goods. We heard that some ports have refused Hanjin’s ships or seized its ships,” the director of an import/export company said, adding that the company has dozens of containers of goods on the way from and to Vietnam.
