Boxship owner goes bust

Shipowner Rickmers Maritime Trust is to be wound up, victim of the Hanjin collapse last summer. Analysts VesselsValue said the value of its fleet fell by around 45% due to distressed market transactions following the collapse of Korean carrier. It also suffered because all its 14 vessels are in the Panamax class which has suffered due to the widening of the Panama Canal Locks. [+]

Hanjin liquidation looms

The Seoul Central District Court said on 9 February said it would declare Hanjin bankrupt on 17 February leading to the shipping company’s liquidation. The assets of Hanjin, once the world’s seventh largest container line, will be auctioned off to help pay off its debts. Analysts said that two containerships ... [+]

Updated: Hanjin throws in the towel

The global recession and global overcapacity claimed its largest shipping industry casualty to date when Korean-owned Hanjin called in the receivers on 31 August. It followed the withdrawal of backing by the state Korea Development Bank, which stated that its debt stood at $5.5 billion at the end of June. The ... [+]

Evergreen goes into an alliance at last: Updated

Evergreen, one of the last major shipping lines to operate independently, is to join in an alliance with four other lines. The Taiwanese operator, together with Cosco, K Line, Yangming and Hanjin will set up the CKYHE Alliance which will operate only on trades between Asia and Europe, including the ... [+]

Two new ships for Hanjin

Hanjin Shipping has taken delivery of its first 13,100teu container ships. The Hanjin Sooho and Hanjin Asia are the first of nine vessels ordered from and will be deployed in the Asia-Europe trade soon after the delivery in April. The rest of the series is scheduled to be delivered ... [+]

New joint Far East service – details revealed

Cosco, “K” Line, Yang Ming, Hanjin and Evergreen have published further details of the new joint service announced in December last year. The lines will sign individual cooperative arrangements on the Asia-Europe trades from April 2012 with eight weekly services between North Europe and Asia and four between the Mediterranean ... [+]

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