# Hanjin shipping filing bankruptcy



## bbrider (Sep 27, 2013)

This one company has accounted for up to 25% of all shipping in Seattle. This ties in with the low cargo numbers worldwide. By itself it doesn't mean much, but when looked at with most other economic indicators, makes me that much more curious about an economic collapse. The next collapse IMHO will likely make '08 look like child's play. Your thoughts?

http://www.king5.com/mb/news/local/hanjin-shipping-files-for-bankruptcy-in-south-korea/312103864

Hanjin Shipping files for bankruptcy in South Korea

John Langeler, KING9 hours agoFacebookTwitterLinkedIn

[http://www]

KGW

port portland hanjin

SEATTLE - Marine ports worldwide, including in the Northwest, are scrambling after South Korea's Hanjin Shipping filed for bankruptcy Wednesday.

Hanjin is one of the largest shipping companies in the world.* Some ports are refusing shipments from the companies.

"It's still fluid, we're not sure of the long-term impact," said Tara Mattina with the Northwest Ports Alliance.

At Terminal 46 in Seattle, where Hanjin is the main customer, empty containers and exports are not being released.* Information to that affect is on the*website*of Total Terminals International, which runs the facility.

Ports worldwide are following suit, fearful Hanjin cannot pay its bills.

"Industry-wide, shipping lines are losing billions of dollars," added Mattina, calling the situation in the shipping industry a "death spiral".

Hanjin did not respond to a request for comment Wednesday.* However, the company told the Wall Street Journal a South Korean court will decide if it will be dissolved or get a chance to restructure.

Copyright 2016 KING


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## bigg777 (Mar 18, 2013)

Well thank God our feckless leader has saved the U.S. economy and we don't have to worry about the rest of the world's economies going to hell in a handbasket.


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