This document discusses the bankruptcy of Hanjin Shipping, the largest container shipping company in South Korea. It provides background on Hanjin and the factors that led to its bankruptcy, including debts totaling $5.5 billion. The bankruptcy filing, the largest in container shipping history, is causing global supply chain disruptions and higher shipping costs. It discusses the effects on customers, competitors, the South Korean economy, and government support measures.
A brief presentation of the maritime, logistics and distribution assets found in Hampton Roads. For more information contact HREDA Business Recruitment Manager, Chris Gullickson at 757-664-2633.
A brief presentation of the maritime, logistics and distribution assets found in Hampton Roads. For more information contact HREDA Business Recruitment Manager, Chris Gullickson at 757-664-2633.
http://odiabetesemfoco.blogspot.com/ => Como curar a Diabetes? Infelizmente com tanta tecnologia e informação na mídia ainda existe uma grande dúvida sobre Como curar a Diabetes, então acesse o site acima e descubra o que todos precisam saber a respeito da diabetes.
The said document is a note providing details on the Slump in the Shipping Industry. The factors responsible for this Slump, views of the various Stakeholders and the current scenario of the Industry at present.
Note: The said document is prepared using online resources and consist of personal views of the author on the subject.
“There is something to be learned from a rainstorm. When meeting with a sudden shower, you try not to get wet and run quickly along the road. But doing such things as passing under the eaves of houses, you still get wet. When you are resolved from the beginning, you will not be perplexed, though you will still get the same soaking. This understanding extends to everything.”
― Tsunetomo Yamamoto
The Hagakure: A code to the way of samurai
http://odiabetesemfoco.blogspot.com/ => Como curar a Diabetes? Infelizmente com tanta tecnologia e informação na mídia ainda existe uma grande dúvida sobre Como curar a Diabetes, então acesse o site acima e descubra o que todos precisam saber a respeito da diabetes.
The said document is a note providing details on the Slump in the Shipping Industry. The factors responsible for this Slump, views of the various Stakeholders and the current scenario of the Industry at present.
Note: The said document is prepared using online resources and consist of personal views of the author on the subject.
“There is something to be learned from a rainstorm. When meeting with a sudden shower, you try not to get wet and run quickly along the road. But doing such things as passing under the eaves of houses, you still get wet. When you are resolved from the beginning, you will not be perplexed, though you will still get the same soaking. This understanding extends to everything.”
― Tsunetomo Yamamoto
The Hagakure: A code to the way of samurai
Sea View, RINA’s annual magazine focused on the cruise market. Sustainable innovation and close collaboration are
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Thank you to CLIA Europe, Carnival Corporation, Holland America Group, Genova Industrie Navali and GEM Cruise Ship Design for their contributions.
At page 3 I share some views about the changes taking place in the global shipping industry from their customer perspective and the exact same edition announces MAERSK acquisition of Hamburg Sud, where I spent most of my professional career. “Coincidence doesn't happen a third time.”
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Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
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June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
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The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
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• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
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1. HANJIN, what’s next?
Lecturer
Max Galarza
Grade
8/10
Group Members:
Christian Salgado
Josselyn Vargas
Carolina Jarrin
Melissa Vera
Carlos Narváez
2. About Hanjin
Hanjin Shipping is Korea's largest and one of the world’s top ten
container carriers.
Transport over 100 million tons of cargo annually.
With 4 regional headquarters in the U.S., Europe, Asia and South
East & West Asia.
Hanjin Shipping’s world-class logistics network around the world.
3. In 5 of september of 2016, Stocks of Hanjin Shipping reported a fall of
13.7% in the Price.
Affected by the financial problems it faces and that led it to declare
bankruptcy.
Hanjin vessels have been arrested and ports are refusing to work Hanjin
ships for fear they will not be compensated.
The largest container shipping bankruptcy in history and the
consequences will continue to reverberate throughout international
supply chains and the transportation sector.
4. Its debt totalled $5.5bn.
Hanjin’s banks decided to end financial support for the shipper.
he collapse comes at a time of high seasonal demand for the shipping
industry ahead of the year-end holidays.
Hanjin represents nearly 8% of the trans-Pacific trade volume for the US
market.
the bankruptcy was having “a ripple effect throughout the global supply
chain” that could cause significant harm to both consumers and the US
economy, the association wrote.
5. Impact on the economy of South Korea
exports
The suspension of payment of
the shipping South Korean Hanjin
Shipping, prices will skyrocket of
container shipments that have
been reduced transport capacity,
as has predicted today the
director of enterprise quality of
Catalan shipping iContainers,
Anna Mateu.
Hanjin, which operates in the ports of Barcelona, Valencia
and Algeciras, filed bankruptcy to justice Seoul following
the refusal of the creditor banks to refinance their debts,
increasing about 4,500 million euros at the end of 2015.
6. • Economic impact to shareholders Hanjin
Shipping Company
Meanwhile, Korean Air Lines, the
parent company of Hanjin Group, lost
today in stock Exchange the 2 percent
on fears that forced to inject liquidity
into the shipping.
Hanjin's creditors, led by Korea Development Bank (KDB)
announced last week that it would not provide more funds
to the shipping indebted insufficient considering the
proposed plan to improve the finances.
Hyundai Merchant Marine, which also experiencing
economic difficulties and is in the process of restructuring,
would also be interested in acquiring some of the assets of
Hanjin, as its port terminals and global transport routes,
according to South Korean media collected.
7. Encouragement and support from the
Government of South Korea
However, after learning that the government of
South Korea will extend financial support to
contractors of the company, totaling 457 to Hanjin
owed a total of 64,000 billion won (about 52
million euros at current exchange rates), the shares
of the company closed with a decrease of 13.71%.
Among the measures included in the Government is
replacing Hanjin Shipping vessels by other shipping
Korean ships to ensure the entry and exit of goods from
China.
The shipping branch of Hyundai will provide 13 of its
container ships for this purpose to routes operated by
Hanjin, according to South Korean minister.
8. Advantages for competitors
Competitors will have more costumers. Specially in
high season.
Increase freight and routes.
Debt would not increase.
Raise on freight from other ways of transportation.
9. Effects with Clients
Merchandise may rotten on the boats that may not enter the
ports.
The clients forecast to receive merchandise on a certain time,
mainly for seasonal businesses or orders.
Clients will lose their trust towards the company.
Higher costs by 50% in comparisons to previous freights.
10. Effects with clients
Security to the merchandise of other clients and the crews.
Stocks lose value, investors lose money.
The clients acquire debt and hope to recover the investment
with the merchandise.
Cargos may be seized.
98 container ships had been denied access to ports including
Shanghai, Sydney, Hamburg, and Long Beach, California.
11. Other facts.
Hanjin accounts for 7.8% of trans-Pacific trade volume for the U.S. market
and a Hanjin bankruptcy would be the largest ever for a container shipper.
50 containers with components for a nuclear power plant under
construction in the United Arab Emirates by a consortium led by Korea
Electric Power Corp (KEPCO) are parked on the outskirts of the port of
Singapore.
Maersk will offer 9 routes that used to offered Hanjin.
12. Panama canal
• Hanjin Shipping represent
1.2% of transits through the
Canal, and 2.7% of revenue
received by the ACP toll.
Big lawsuits from
companies like
Samsung, LG
Electronics and
Nexen Tire
Corporation.
Many users of the shipping company
will have to seek other services to
send or receive merchandise.
Retailers will turn
more towards to
products
manufactured
closer to home –
the U.S. and
Mexico.
13. Bibliography
Panamá analiza el impacto de la quiebra la naviera Hanjin Shipping.
(n.d.). Retrieved October 28, 2016, from
http://www.estrategiaynegocios.net/lasclavesdeldia/996673-330/panamá-
analiza-el-impacto-de-la-quiebra-la-naviera-hanjin-shipping
McGrath, B. (n.d.). South Korea’s Hanjin Shipping bankruptcy has global
impact - World Socialist Web Site. Retrieved October 28, 2016, from
https://www.wsws.org/en/articles/2016/09/09/hanj-s09.html
CNBC. CNBC . s.f. http://www.cnbc.com/2016/08/31/hanjin-shipping-vessel-
unable-to-dock-at-south-korea-port-yonhap.html (last access: 27 de OCTOBER de
2016).
14. Bibliography
FORTUNE. FORTUNE . s.f. http://fortune.com/2016/09/02/hanjin-shipping-ports-us-firms/
(Last access: 27 OCTOBER of 2016).
. FORTUNE. s.f. http://fortune.com/2016/09/05/hanjin-shipping-ships/ (last Access : 27
OCTOBER of 2016).
INSIGHTS, OECD. OECD INSIGHTS. s.f. https://oecdinsights.org/2016/09/09/container-
shipping-why-hanjin-went-under/ (last Access : 27 OCTOBER of 2016).
TIMES, FINANCIAL. FINANCIAL TIMES . s.f. https://www.ft.com/content/205af87a-6fba-11e6-
a0c9-1365ce54b926 (last access: 27 OCTOBER of 2016).
15. Bibliography
The guardian (2016), Hanjin Shipping bankruptcy causes turmoil in global
sea freight, retrived from:
https://www.theguardian.com/business/2016/sep/02/hanjin-shipping-
bankruptcy-causes-turmoil-in-global-sea-freight
Financial times (2016), Debt-laden Hanjin Shipping seeks court protection,
Retrived from:
https://www.ft.com/content/93dcd36e-6f4b-11e6-a0c9-1365ce54b926