Hanjin opposed Ashley Furniture’s motion for a freeze on the amounts it owes the carrier, along with a reduction in the amounts owed, saying in a court filing that if the motion was granted, its ability to reorganize would have been severely jeopardized.
The U.S. District Bankruptcy Court in Newark, N.J. will hear from companies today that said Hanjin is not “promptly” informing creditors when ships go off charter.
Thomson Reuters global trade management business, ONESOURCE Global Trade, conducted its second annual Global Trade Survey, shedding light on trends and challenges faced by trade experts and multinationals alike.
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Investments in new projects are slowing, and Neil Davidson, senior analyst in Drewry’s ports and terminals practice, warned that a sudden rebound in demand could be a problem.
Peak season capacity took a major hit in third quarter 2016 as carriers scrambled to replace services interrupted by Hanjin Shipping’s Aug. 31 bankruptcy announcement.
Ocean carrier schedule and capacity database BlueWater Reporting has released a report detailing all services on which Hanjin Shipping operated at the time of its insolvency filing.