On 31st August 2016, it was formally announced that Hanjin Shipping had filed for court receivership after a decision by banks and other creditors not to continue to offer financial support in the face of increasing debts.

The details of restructuring plans are not yet known. Meanwhile, Hanjin has applied for a protection of assets and a comprehensive injunction, expected to be granted by Seoul Central District Court.

Reports are already coming in that Hanjin vessels have been denied access in Shanghai and Xiamen in China, Valencia, Spain, and Savannah, Ga, as a result of fears that Hanjin will not be able to pay port fees.

Hanjin is the world's seventh largest container carrier and there will be cargoes on multiple vessels at present that may experience difficulties as a result of this, particularly perishable goods &/or time-sensitive shipments.

If you are aware of any involvement with cargo(es) onboard HANJIN vessels at this time and W E Cox Claims Group may be of assistance in any way, please do not hesitate to contact us.