Global Supply Chain News: Hanjin Bankruptcy Causes Global Logistics Turmoil, and Ends Mirage that Struggling Container Line Won't Go Under

In a flurry of legal activity, South Korea's Hanjin Shipping, the world's seventh largest container carrier by capacity, filed for bankruptcy protecting in its home country last, causing something of a panic in global shipping and more filings in other countries where Hanjin operates.

Hanjin plans to file for court protection this weekin about 10 countries, including the US, Canada, Germany and the UK, and later expand that to 43 jurisdictions to protect its ships and other assets from being seized by creditors, South Korea's Financial Services Commission said on Monday.

Last modified onTuesday, 06 September 2016 02:20