Insolvency proceedings of Hanjin Shipping Co. Ltd.- Latest News

Since the opening of insolvency proceedings of the shipping company Hanjin Shipping Co. Ltd. on August 31, 2016, one week has passed.

Now the South Korean court must decide whether the Hanjin Group with 100 vessels is still possible to reorganize or must be unwound. A final decision is expected within one month or two.

HANJIN - WHAT IS GOING ON?

To keep the shipping business basically running, there are considerations of the government and shareholders to provide a financial support at short notice. But this information is based on unconfirmed media reports only. But the fact is that a Hanjin crisis committee was established by the government. Apparently the Hanjin vessels are diverted to selected offshore ports like Busan, Singapore, Hamburg and Los Angeles in order to prevent a seizure of the containers.

SENATOR INTERNATIONAL - WHAT DO WE DO?
Senator International has taken action currently and is rebooking with greatest effort the affected cargo to other Shipping companies. In addition we check alternative possibilities of shipment such as Rail transport between Asia and Europe. Regarding the release of the containers which have been loaded on Hanjin vessels already our staff is in closed contact with the terminal operators and official institutions in order to proceed accordingly.

WHO IS LIABLE?
We, as your freight forwarder, are not liable for direct, indirect or consequential loss or damage due to the insolvency of the shipping company Hanjin. This applies also for possible additional charges for terminal services like loading/unloading, lashing/unlashing, security charges, IMO surcharges, deliveries, storage and re-stowing. Please get in contact with your insurance company for your losses.

WE ARE PREPARED FOR YOU!
Our ultimate goal is still to minimize the impact of this exceptional situation for our customers as low as possible and to ensure a professional handling of your cargo. Should your cargo be affected, our staff will get in contact with you immediately and will coordinate the necessary procedure with you. For any further questions, please contact our Sales representative, the direct contact details are available on our Website. Thank you!
www.senator-international.com/en/contact.html

 Hamburg, September 8th, 2016