Update on Hanjin Bankruptcy – 9/12/2016

 In Industry Insider, Trans-Border Global Freight Systems, Inc.

Dear Valued Partners & Clients,

Sept 12, 2016 – We would like to update the trading community with the latest developments on the Hanjin bankruptcy.

– Four vessels as reported on Friday were given court protection by a U.S. Judge. This meant creditors could not legally take possession or seize the vessels while in U.S. waters.

– The Hanjin Greece docked in Long Beach over the weekend, and has subsequently been unloaded. It is scheduled to leave Long Beach on Monday evening for Oakland.

– It is unclear as to when U.S. ports will allow other U.S. bound vessels to berth. The Hanjin Boston remained anchored outside of Long Beach, while the Hanjin Gydnia was still several hundred miles offshore from the same port. The Hanjin Jungil is also located just outside San Francisco (with its destination being Long Beach).

– Another vessel – the Hanjin Montevideo, is under the supervision of a court-ordered custodian after two fuel companies obtained an arrest warrant for unpaid bills.

Note that the above is not a complete list of all the Hanjin vessels in question – just on the vessels around the U.S (and based on current data available). Trans-Border will continue to monitor the situation and will relay all updates as they happen.

Should you have any questions, please contact one of the below listed managers via email or by calling 800-493-9444 who will be able to assist accordingly.

Brunilda Carroll – Ocean Export Operations Manager
Sumar Bhatti – Import Operations Manager