Bankrupt Hanjin to close down European operations

Bankrupt Hanjin Shipping is set to close down its European operations, while it attempts to sell its Asia – US business.

According to reports the judge overseeing Hanjin’s receivership at the Seoul Central District Court has approved the move close its 10 branches in Europe.

The process is expected to start next week and will see what was until the end of August the world’s seventh largest container line fully exit the Asia – Europe trade, after its operations ground to a halt when it filed for receivership.

In mid-October Hanjin put its Asia – US business, including five containerships up for sale with an expectation of a deal being concluded by mid-November.

Read all the background to the Hanjin Shipping bankruptcy on our timeline

Posted 24 October 2016
Marcus Hand

Editor, Seatrade Maritime News

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