Hanjin to Shut Down European Ops

Image Courtesy: Hanjin Shipping

Some two months after filing for court receivership, the financially troubled Hanjin Shipping is looking to close its European operations, the company said in a stock exchange filing.

South Korea’s former shipping giant has received permission from the Seoul District Court to shut down four of its European units, namely, Hanjin Shipping Europe GmbH & Co, Hanjin Shipping Hungary Transportation Ltd, Hanjin Shipping Poland Sp and Hanjin Spain S.A.

Hanjin said that the scale-down of activities is scheduled to start in late October or early November through declaring bankruptcy or starting liquidation procedures.

The move follows the ailing container carrier’s decision to sell its stake in the Port of Long Beach container terminal in California as part of the efforts to stay afloat.

Namely, a spokesperson for shipping major Mediterranean Shipping Company (MSC) confirmed reports that the company is in talks to acquire Hanjin Shipping’s 54 percent stake in Total Terminals International LLC, the operator of the terminal.

Hanjin Shipping succumbed to the prolonged depression in the shipping market and filed for court receivership in late August after its creditors, led by KDB, said they would not provide additional financial support to Hanjin starting from September 4.

The move resulted in some 97 of the company’s container ships being left stranded across the globe and unable to load or offload containers.

World Maritime News Staff

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Breakbulk Europe 2017

For more than a decade, Breakbulk Europe has served as the networking hub for industry professionals who do business in Europe — or would like to! Exhibitors and sponsors include cargo owners, ocean carriers, freight forwarders, ports/terminals, heavy haulers, equipment companies and more that are involved in this specialized industry.

In addition to exceptional networking opportunities, Breakbulk Europe provides a dynamic conference, along with a range of educational and training workshops — intensive all-day classes held the day before the exhibition opens as well as many on-the-floor sessions.

  • Over 7,600 participants attended Breakbulk Europe 2016
  • Meet with over 400 exhibitors and sponsors
  • Hear from industry experts, including leading shippers, during the conference sessions
  • Learn new skills in the educational workshops held before the exhibition and on-the-floor micro-seminars and exhibitor-led sessions during the event

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Ferries Asia Summit

Propelling Regional Waterway Connectivity & Fleet-wide Operational Excellence

Ferry travel is in the limelight. The potential for driving tourism growth is immense – and for archipelago nations battling with urban congestion, ferry services pose a clean, efficient alternative in everyday public transport. But high-profile ferry accidents have brought ever greater attention to safety regulations for Asia’s maritime travel industry.

Amid these circumstances, how can vessel operators cope with ever-tightening safety requirements, while making the right decisions at the right time to capture rising demand? What are the smartest ways to improve service reliability and fleet quality, that maximize operating and capital spend? What are the industry’s best-practices for sustainable growth, and how can they be achieved?

Play your part! Join us at the Ferries Asia Summit 2017 to push forward the regional debate on making Asia’s ferry industry more progressive, safe, and commercially sustainable. Bringing together fast-ferry, RO-RO and ROPAX vessel owners along with international and domestic maritime regulators, classification agencies, shipbuilders and naval architects, this event connects the entire value chain for a meaningful holistic debate on ferry operations excellence in Asia.

WHAT’S ON THE AGENDA THIS YEAR?

Comprehensive debates on addressing the complexity of ferry safety in Asia: Is vessel age truly the greatest concern? How significant are other factors, and how can they be addressed?

Pathways to change through greater public-private collaboration

Contrasting viewpoints on the most effective ways to enhance operational stability & passenger management

Cost-efficient O&M strategies to extend vessel life & tips for stakeholder management to avoid purchasing mistakes

Integrating ferry business with tourism opportunities through strategic partnerships

Exciting formats including speed networking, panel discussions & a high-intensity fast-pitch ‘Shark Tank’!

For more information, click here to download the brochure.
If you would like to attend the event, register here before 3rd February to save USD 400.
Alternatively, email us at enquiry@iqpc.com.sg 
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INMEX Vietnam 2017

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Singapore Maritime Week 2017

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