Hanjin Shipping – UPDATE

Date: September 13, 2016
Subject: Hanjin Shipping – UPDATE
Dear Customers and Business Partners,

Since Hanjin’s application for receivership, Delmar has taken measures to ensure that our customer’s shipments moved to their respective destinations with minimal delays. By working closely with the Canadian National Railway and the Port Operators on the Canadian West Coast – we have avoided any major disruptions by being proactive with all operational stakeholders. As of this morning, most inbound Toronto and Montreal containers discharged from the Hanjin Scarlet have loaded to rail with few exceptions – the remaining Toronto and Montreal boxes should move by noon today. All of the backlog from the COSCO Singapore has also loaded to rail for Toronto and Montreal. The Hanjin White v. 0020E is still anchored at the Port of Pusan, Korea awaiting further rulings and discharge plans. The Hanjin Marine v. 0028E has a Prince Rupert revised ETA of September 19 with no indication as to when she will start discharge operations.

There have also been some positive developments vis-à-vis the fate of several Hanjin vessels awaiting berthing instructions on the US West and East Coasts. As reported by major international newswires, Hanjin Seoul Headquarters confirmed yesterday that they now had the funds required to complete discharge operations on the Hanjin Greece and the three other vessel still at anchorage on the US West Coast. The two other vessels off the coast of NY/NJ and Savannah, SC ports are still lacking further directives. Hanjin’s parent Korean Airlines has already agreed to release USD55 million in immediate funding as part of USD91 million aid package. The carrier will use these funds to work several US bound vessels anchored at port.

US courts that are ruling in favour of protecting Hanjin assets from seizure – will safeguard some 530,000 containers affected by the Hanjin collapse. Analysts are estimating that the commercial value of these containers throughout the carrier’s network is close to USD 14 billion – as reported by the Journal of Commerce.

Delmar will continue to monitor the situation and work pro-actively with our partners to keep your cargo moving.

Additional information may be obtained by contacting your local Delmar representative.

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