Hanjin is the Tip of the Iceberg

September 23, 2016

September 23, 2016

The Hanjin bankruptcy came as no surprise given the firm’s inability to restructure its finances, and it highlights the weakness of a system in which owners charter ships to companies that don’t own or control the cargoes.

Hanjin is the tip of the iceberg for shipping in the container and dry-bulk sectors: together, they service both ends of the manufacturing chain in a slowing global economy.

The financial state of shipping continues to decline.  Read more

Source: The Maritime Executive