The scale and complexity of the fallout from the receivership filing means that the Hanjin Shipping story will continue to develop for many months, if not years.
Below is a timeline of the Hanjin Shipping collapse for ease of reference.
10 October – Two Hanjin Shipping vessels were allowed to call at China in Yangshan port for the first time since the shipowner’s bankruptcy: Two Hanjin boxships allowed to berth at China’s Yangshan port
7 October – Since the 22 September a steady stream of Hanjin vessels have berthed in Singapore, shippers have to a pay SGD5,000 deposit get import containers though: 14 Hanjin Shipping vessels have berthed in Singapore so far
5 October – Hanjin chairman likens container shipping rate war to a “game of chicken”, which they lost: Hanjin Shipping lost ‘game of chicken’ with other container lines in price war
29 September – Cosco is eyeing Hanjin’s container terminal business: Cosco Shipping may buy Hanjin Shipping’s port assets
20 September – Hanjin Shipping set to return all of its 65-chartered in vessels once the have manage to discharge cargo: Hanjin to return all chartered in vessels
16 September – Singapore courts join US and UK in recognising Hanjin’s bankruptcy protection filing in Korea: Singapore courts grant interim stay order for Hanjin Shipping
13 September – Seaspan chief Gerry Wang sees the Hanjin bankruptcy as a Lehman Brothers moment for shipping and like a nuclear bomb going off: Seaspan chief Wang sees Hanjin bankruptcy as shipping’s Lehman Brothers
10 September – A US bankruptcy judge grants a protection order that will allow Hanjin ships to dock at US ports without fear of arrest: Hanjin gets US protection order to allow vessels into port to unload
9 September – A report by the US Department of Agriculture warns of disruption to shippers for two – three months: Disruption at US ports due to Hanjin collapse to last two – three months
9 September – A report by the US Department of Agriculture warns of disruption to shippers for two – three months: Disruption at US ports due to Hanjin collapse to last twp – three months
7 September – Hanjin is granted interim bankruptcy protection in the US, has to return to the courts on Friday: Hanjin Shipping wins temporary bankruptcy protection order in the US
6 September – Hanjin to get $90m in emergency funding from parent to unload vessels stranded around the world: Hanjin gets $90m lifeline as it seeks to offload vessels at three ports
5 September – Hanjin moves to stop it vessels being arrested if they berth in the US: Hanjin Shipping files for US bankruptcy protection
2 September – Alliance and service partners move quickly to suspend or terminate joint services: Evergreen distances itself from distressed alliance member Hanjin Shipping and CMA CGM ditches Hanjin partnership on five services
1 September – In the wake of the receivership filing chaos ensues in the global supply chain as Hanjin vessels are stranded around the globe: Hanjin Shipping vessels and containers left stranded
31 August – One day after creditors pulls support Hanjin files for court receivership sending shockwaves through the industry: Hanjin Shipping to file for receivership in biggest ever boxshipping bankruptcy
30 August – The knell sounds as the Korean Development Bank pulls its funding support: Bankruptcy looms over Hanjin Shipping as creditors halt funding
16 August – Hanjin’s losses continue to mount in the second quarter: Hanjin Shipping loss widens to $433m in first half
11 August – More bad news for Hanjin as the state aid is not forthcoming: South Korean government rules out financial aid for Hanjin Shipping
27 July – Signs that all is not going well with Hanjin restructuring as shipowner Seaspan makes clear it won’t agree to cut charter rates: Seaspan stands firm on not cutting rates
16 May – Hanjin revealed a hefty first quarter loss: Hanjin hit loss of $222m in Q1
4 May – Things were looking promising with Hanjin receiving creditor approval for a voluntary restructuring: Hanjin Shipping gets creditors’ approval to restructure.
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