Friday, September 23, 2016

Shipping company: Hanjin-insolvency threatens supplies for Christmas –

Needs to be moved the mess this year? With the bankruptcy of the seventh largest cargo ship-shipping company in the world (Hanjin of South Korea) hanging mass Were on the high seas, which are planned for the Christmas business.

With a view on Christmas, dream of the dealer normally, from fat sales. But this year, it could be for some, a replenishment problem. Goods with a value estimated at more than twelve billion euros in ports and on Hanjin vessels “stranded”.

500,000 Container stuck

The ports refuse dozens of freighters, the South Korean shipping company in the driveway because they fear that Hanjin is unable to pay the port fee. Estimated half a Million Container remains on the 97 large cargo ships, while Hanjin negotiates for protection from creditors.

are Particularly affected electronics-dealers and those that sell consumer goods. Because the holiday season is the most profitable time of year for you. “Black Friday is coming soon,” says the head of the home appliances division of the television and Smartphone manufacturer LG, Cho Sung-Jin. The day after the U.S. holiday of Thanksgiving in late November in the US, traditionally a consumer-to-noise.

Also Samsung affected

LG has also let ten to 20 percent of its North American freight Hanjin transport. “I’m not sure whether we can operate with our current stocks and the demand,” said Cho Sung-Jin.

Samsung, the largest Smartphone manufacturer in the world, is concerned: He cares for the goods on two Hanjin ships worth the equivalent of around 34 million euros. Creditors could have the goods seizures, when the ships enter a port.

And Beijing has not sent the General Manager of Asia of the Grill manufacturer Weber, Stephen Chu, to its customers in Los Angeles and in Australia, new goods, because he knew, when Hanjin will deliver two containers with Grills in the value of 700,000 Euro.

support Fund is only a drop in the bucket

the World can’t pay Hanjin estimated six trillion Won (4.8 billion euros) of debt. In South Korea and in the U.S., the company has filed for creditor protection, to be able to alone renovate. Hanjin has to 25. November time to submit a reorganization plan – this is the Black Friday. A court will then decide on the future of the company.

Meanwhile, it is attempted, the operation of the business to maintain as far as it goes. Occasionally, Hanjin vessels can delete with a special permit, but their cargo in New Jersey and Long Beach in the US or in Singapore.

And Hanjins mother group has set up a support Fund with 100 billion Won; after long Hesitation, shareholder Korean Air released large-scale on Wednesday evening, its share of the 60 billion Won (around 50 million Euro).

A drop on the hot stone at 4.8 billion euros in Minus. The port of Rotterdam has almost resigned: “In the case of the debt, it is very unlikely that we will ever see our money,” says spokesman Sjaak Poppe.

Is solved logistics crisis to shipping in October?

there is hope after all for the Christmas deliveries. According to the South Korean Finance Minister Yoo Il Hoo, the crisis can be defused in the world unquenched charges in the next month. Almost 90 percent of the Hanjin-powered container ships could be unloaded until the end of October, said Yoo, according to the national news Agency Yonhap during a visit to the Terminals of the largest South Korean shipping company in Busan. “The logistics faults will be finished”, was Yoo quotes.

has been 35 of the 97 affected ships are to be unloaded, said Yoo. The collapse of Hanjin had a worldwide triggered in the case of ship-owners, ports, and traders of great uncertainty.

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