THE Alliance Unveils Safety Net in Case of Bankruptcy

The five member lines of THE Alliance said that they will establish an independent trustee to manage funds to be used if one of the carriers suffers a bankruptcy.

Report: Hanjin’s Bondholders to Suffer Big Losses

Bondholders of the former South Korean shipping company Hanjin Shipping, which was officially declared bankrupt on February 17, could experience losses of up to KRW 1.2 trillion (USD 1.05 billion),Yonhap News Agency cited industry sources as saying.

Hanjin Shipping Officially Declared Bankrupt

The former South Korean shipping giant Hanjin Shipping was officially declared bankrupt by the Seoul Central District Court on Friday 17, less than six months after it first filed for court receivership.

Hanjin bankruptcy to hit Indian cargo

The fate of over 5,000 containers carrying Indian cargo remains uncertain, with South Korean shipping line Hanjin applying for US bankruptcy protection, said industry sources.

Lithuanian Shipping Company’s Liquidation Starts

Klaipeda County Court has decided to declare the PC Lithuanian Shipping Company bankrupt and began the process of liquidation, the company said in a notice to creditors dated May 30.

Vard exposed to Harkand bankruptcy

Offshore shipbuilder Vard has a nearly completed newbuilding that was scheduled for delivery in the second quarter...

HMM Disposing of Port Terminal Stake to Avoid Bankruptcy

South Korea’s troubled shipping company Hyundai Merchant Marine (HMM) has decided to sell its stake in the ...