A South Korean bankruptcy court has ordered Hanjin Shipping to return its fleet of chartered vessels – which are costing more than two million US dollars per day – back to their owners. The line is working on a restructuring plan that, if approved, will see it keep a maximum 15 of its 37-owned ships and return almost all of its 60 chartered vessels back to their owners. 28 ships have finished unloading at ports in California, Spain and other parts of the world; while another 34 remained stranded at sea for fear that if they dock they will be seized by creditors. A further 35 were on their way back to Korea.
The situation here in Australia is that the Hanjin Milano is drifting off the coast of Melbourne but it is hoped that all of the containers will be discharged, including those for Sydney and Brisbane, in lieu of not calling at those ports due to the threat of ship arrest. The Hanjin California is still under arrest in Sydney, tied up at Glebe Island wharf. There are a number of export containers that had already been loaded and are now stuck on the ship, reflecting a situation that is going on all around the world.
Now the issue of empty container returns has arisen, with Sydney, Brisbane and Fremantle container parks at capacity and no longer able to accept Hanjin empty containers. With no immediate solution in sight, consignees are stuck with hanging on to empty containers and the shipping line is advising them to just hold the boxes and notify Hanjin’s Container Detention Department of the container details, so that detention is not charged.
The South Korean government has indicated it has no plans to bail out the company. A Korean court will decide in December whether to accept the proposed restructuring plan or let the company go under, according to court officials in Seoul.
