While traveling in Asia and the Middle East, it’s easy to recognize “Hanjin” at virtually every port with thousands of shipping containers. They’re a South Korean company that made its entry into the containerized shipping business in 1969 after a successful 20+ year run providing transportation services for the U.S. Army, Navy and Air Force in Korea and Vietnam. They expanded into the Middle East in the 70s and 80s, then in the 90s branched into trucking and warehousing introducing “Hanjin Express” to deliver small packages and provide courier service.
August 31, 2016 Hanjin Shipping filed for bankruptcy and are now seeking to protect their assets world wide.
I’m picturing the image of thousands of Hanjin containers in all those foreign ports now sitting idle as legal ramifications are unwound. It must be a logistics nightmare as a whole lot of cargo sits idle out there.
Read the WSJ Logistics report most recent update(s) for more: