A solution for Hanjin

The Hanjin container ship that had sat for over a week at the Prince Rupert harbour was unloaded at Fairview Container Terminal on Sept. 7.

The Hanjin Scarlet container ship was anchored for more than a week at the Prince Rupert harbour was finally unloaded.

The South Korean container ship that had been anchored in the Prince Rupert harbour full of cargo for more than a week was unloaded at the Fairview Container Terminal on Sept. 7.

Hanjin Shipping Co. declared receivership on Aug. 30, after the Hanjin Scarlet arrived in the harbour. Hanjin Shipping was reported to have applied for court protection from its creditors.

On Aug. 2, the Port of Prince Rupert announced in a press release, that DP world, the operator of Fairview Container Terminal and CN have arranged to move the Hanjin containers through the port. DP World required pre-payment for handling the containers and CN offered to move the goods from the port to various destinations in Canada and the U.S at a relevant rail charge.

The container vessel in the Prince Rupert inner harbour unhandled and, still full of cargo,  was a sight seen in ports around the world. In the midst of Hanjin Shipping Co.’s financial crisis, ports either turned the ships away for fear of not getting paid to unload the cargo, or creditors seized the ships.

There are reports of at least $14 billion worth of cargo left stranded on Hanjin ships. Korean Air Lines, the largest shareholder in the shipping company, found a partial solution on Saturday to loan $60 billion won ($70.5 million) for a conditional bailout.

 

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