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The end is nigh - Hanjin Shipping expected to be declared bankrupt on 17 Feb

Hanjin Shipping is expected to be finally declared bankrupt on 17 February a Seoul court said today.

Marcus Hand, Editor

February 2, 2017

1 Min Read
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The Seoul bankruptcy court decided to end Hanjin’s receivership process on 2 February setting a date of 17 February for the company to be declared bankrupt following appeals.

The court found that Hanjin’s liquidation value would be higher than keeping it as going concern.

The world’s seventh largest container line filed for receivership on 31 August last year laden by $5bn in debt triggering chaos in the global supply chain.

While officially formulating a rehabilitation plan Hanjin has been selling assets such as its US container terminals and its Asia – US business to raise cash to pay of its debts.

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

About the Author

Marcus Hand

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

See more from Marcus Hand
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