container ship bailout

Todd Lappin

Hanjin Unloads Ship At Long Beach, South Korean Government Promises Funds

The sudden bankruptcy of Hanjin Shipping meant that the company’s container ships were temporarily doomed to float around with dwindling supplies for their crews and containers full of your holiday gifts. Concerned that ships and their cargo might be seized, ports refused to allow them in. However, a bankruptcy court in the U.S. agreed to protect a ship arriving at the port of Long Beach, CA from having its cargo seized, and it was unloaded over the weekend. [More]