Photo Source: Maritime Executive

Photo Source: Maritime Executive

Hanjin Still Short of Funds to Offload Cargo

By: MarEx | September 14, 2016

Two weeks after it filed for court receivership in South Korea, Hanjin Shipping is still struggling to raise the capital required to pay for the unloading of stranded cargo on its idled container ships.

Of the $530 million that South Korean financial regulators say Hanjin will need in order to unwind its present cargo dilemmas, the troubled firm has secured pledges of only a fraction of the required amount from its executive leadership and its related group companies – prolonging its difficulties.

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Maritime Executive