{"id":1251,"date":"2017-02-04T21:53:38","date_gmt":"2017-02-04T14:53:38","guid":{"rendered":"http:\/\/www.vtrlogistics.com.vn\/?p=1251"},"modified":"2017-02-08T11:39:31","modified_gmt":"2017-02-08T04:39:31","slug":"reports-hanjin-shipping-liquidation-set-for-feb-17","status":"publish","type":"post","link":"https:\/\/www.vtrlogistics.com.vn\/?p=1251&lang=en","title":{"rendered":"Reports: Hanjin Shipping Liquidation Set for Feb 17"},"content":{"rendered":"<p><span style=\"color: #000000;\"><strong>The rehabilitation process for the former South Korean shipping giant Hanjin Shipping is set to end on February 17, Yonhap News Agency cited the Seoul Central District Court.<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\">The decision was made on Thursday by the South Korean court,\u00a0some half a year after the cash-strapped carrier was put under <a style=\"color: #000000;\" href=\"http:\/\/worldmaritimenews.com\/archives\/200827\/hanjin-files-for-court-receivership-hmm-to-buy-its-assets\/\" target=\"_blank\">court receivership<\/a>\u00a0as\u00a0it\u00a0succumbed to the prolonged depression in the shipping market.<\/span><\/p>\n<p><span style=\"color: #000000;\">The company filed for court receivership in late August 2016 as\u00a0its\u00a0creditors,\u00a0led by the state-run Korea Development Bank (KDB), said they <a style=\"color: #000000;\" href=\"http:\/\/worldmaritimenews.com\/archives\/200768\/creditors-to-end-hanjin-shippings-financial-support\/\" target=\"_blank\">would not provide<\/a> additional\u00a0financial support to Hanjin\u00a0starting from\u00a0September 4.<\/span><\/p>\n<p><span style=\"color: #000000;\">In an effort to collect enough cash to pay back its creditors, the company opted to sell a number of its assets, including its entire Asia to US <a style=\"color: #000000;\" href=\"http:\/\/worldmaritimenews.com\/archives\/204134\/report-hanjin-to-sell-its-asia-to-us-route-network\/\" target=\"_blank\">route network<\/a> and operations on the routes, a number of <a style=\"color: #000000;\" href=\"http:\/\/worldmaritimenews.com\/archives\/211512\/drewry-many-ex-hanjin-ships-to-remain-idle-for-some-time\/\" target=\"_blank\">containerships<\/a>, as well as its\u00a0<a style=\"color: #000000;\" href=\"http:\/\/worldmaritimenews.com\/archives\/207381\/hmm-selected-as-preferred-bidder-for-hanjins-spain-terminal\/\" target=\"_blank\">overseas businesses<\/a>.<\/span><\/p>\n<p><span style=\"color: #000000;\">Earlier this week, Hanjin\u2019s stake in Total Terminals International (TTI),\u00a0the operator of two facilities\u00a0in Long Beach and Seattle, <a style=\"color: #000000;\" href=\"http:\/\/worldmaritimenews.com\/archives\/211697\/msc-hmm-conclude-purchase-of-hanjins-tti-stake\/\" target=\"_blank\">was sold<\/a> to\u00a0Swiss-based Mediterranean Shipping Company (MSC) and South Korean Hyundai Merchant Marine (HMM).<\/span><\/p>\n<p><span style=\"color: #000000;\">The acquisition, undertaken by\u00a0MSC\u2019s subsidiary Terminal Investment Limited (TIL) and HMM,\u00a0includes all of Hanjin\u2019s equity\u00a0and shareholder loans in both TTI and the associated terminal equipment leasing company Hanjin TEC Inc.<\/span><\/p>\n<p><span style=\"color: #000000;\">World Maritime News Staff<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The rehabilitation process for the former South Korean shipping giant Hanjin Shipping is set to end on February 17, Yonhap News Agency cited the Seoul Central District Court. The decision was made on Thursday by the South Korean court,\u00a0some half a year after the cash-strapped carrier was put under court receivership\u00a0as\u00a0it\u00a0succumbed to the prolonged depression &hellip;<\/p>\n","protected":false},"author":2,"featured_media":1252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[95,75],"tags":[174,178,176,180],"acf":[],"_links":{"self":[{"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/posts\/1251"}],"collection":[{"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1251"}],"version-history":[{"count":2,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/posts\/1251\/revisions"}],"predecessor-version":[{"id":1257,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/posts\/1251\/revisions\/1257"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=\/wp\/v2\/media\/1252"}],"wp:attachment":[{"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtrlogistics.com.vn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}