More than half a million floating containers

International maritime media are closely following the bankruptcy of Hanjin Shipping. The ports where the South Korean giant usually operates are not allowing the ships of this shipping company to dock due to fears of unpaid operations. This is why they will have to wait for a solution, which does not seem easy or quick, and experts talk about weeks, at the earliest, or months. A major global disaster is being discussed, far greater than that which United States Lines experienced in 1986, as Hanjin Shipping has a presence in the main ports.

There are just over half a million containers trapped, most aboard Hanjin's fleet and at the terminals where it usually operates. Others are on land and will remain as collateral against what may happen. To avoid seizures, ships, whether owned or chartered, are avoiding making port calls and are waiting for developments. Millions of tons of goods are waiting to reach their destinations, which could affect trade, as not all the cargo is the responsibility of Hanjin, but of the consortium in which it operates, which includes four other major shipping companies.

Photo: AFrank99