Consignees and exporters fear for their goods. freight rates for containerized cargo from the US They have soared, and the first boats have been arrested. According to sources ShippingWatch, four ships in three ports of Asia have been arrested. We confirm where and what ships such as the collapse of the Hanjin line with great speed leaves impacted international trade in the world.
Within hours of the announcement on Wednesday, where the seventh largest container operator in the world, Hanjin Shipping, filed for bankruptcy, the consequences began to emerge throughout the maritime industry worldwide.
Thanks to ShippingWatch, we present an overview of what happened a day after the surprising request for suspension of payment of the shipping line in South Korea.According to information obtained by ShippingWatch at least four vessels have already been arrested:
Hanjin Hanjin Rome and Argentina (Singapore)
Hanjin Soho (Shanghai)
Hanjin Turkey (Xiangang)
Arrests occur as a direct result of the application of arrest for payments and the enormous uncertainty that this has led to the development of the entire supply chain, from shippers to port authorities. Hanjin Shipping has confirmed the arrest of Hanjin Rome.
Stranded on the US west coast
On the other side of the Pacific, in the US, Hanjin three vessels are stranded on the west coast of the United States. destination port of ships, according to Bloomberg, Los Angeles Long Beach, where boats can not enter because they can not pay for services such as pilotage and tugs.
"It will be interesting to see how this system works," mentioned Kipp Louttit, executive director of the Marine Exchange of Southern California, according to Bloomberg.
He also said he was unaware of what charges have arrested the three ships.
Exporters and the maritime industry fear for loading and rates
Hanjin's fleet consists of a total of 98 vessels with a total capacity of just over 600, 000 TEU and Hanjin Shipping transports a total of 25,000 containers across the Pacific daily.
The central role of Hanjin has raised concerns among importers, exporters and freight at ports.
"There will be no exorbitant costs," said Peter Schneider, vice president of TGS Transportation Inc. in California, the Wall Street Journal.
TGS Transport is between USD 6,000 and 7,000 in unpaid bills with Hanjin, and the company expects to be canceled, reports the Wall Street Journal. However, for other companies might be harder hit.
Importers and carriers are also concerned that prices in transport on the Pacific dispararen. In particular, giants South Korea as Samsung Electronics and LG Electronics could face big problems because 40 to 20 percent of their US exports so far have been taken aboard ships Hanjin.
According to The Korea Economic Daily, the South Korean Ministry for Oceans and Fisheries it held an emergency meeting to discuss the situation of exporters and the possibility of new transportation options for them.
Even before the legal application of Hanjin Wednesday freight from the ports of South Korea to the US They began to rise. On the route between the largest port in Busan South Korea and Los Angeles, rates had already increased by 55 percent, according to The Korea Economic Daily.
The main problems in ports
Busan is the largest port in South Korea, the sixth port of the world's largest container.Following the request for suspension of payments, a minimum of 1,470 containers have been arrested in Hanjin ships, abandoned in the port, reports the Korea JoongAng Daily.
port administration is concerned about the collapse of Hanjin could affect the port now.
"Removing an irreplaceable transport company is unacceptable in terms of national interests. The main creditors are pressing Hanjin Shipping judicial administration just because they can not pay 300 million won. They are going to end up losing something much bigger, "he said an official of the Busan Chamber of Commerce and Industry of Korea JoongAng mentions this Friday.
Merger or acquisition
The Korean government is exploring opportunities to merge with competitor Hanjin Shipping Hyundai Merchant Marine, which in this case would be able to acquire a total of 123 operations in trade between Asia and the United States.
Meanwhile, the CEO and partner of analyst firm SeaIntelligence Consulting, Lars Jensen, Maersk Line observes that looks like an obvious buyer of South Korean online collapsed.
"Maersk Line would be a strong contender to buy cheaply in the case of a quick sale of Hanjin Shipping, and will be fully consistent with the interest previously held Maersk Line to bid on the line Singapore APL in 2015, where Maersk Line his eyes on assets, but they were not willing to pay the price, which the French CMA CGM ended up paying for APL, "said Lars Jensen to ShippingWatch on Wednesday.