WalMart must have pulled a few strings after their main container contactor denied entry into ports in US. As for Canadian ports...still a no go.
Sept. 6, 2016 8:52 p.m. ET
Container ships operated by South Korea’s Hanjin Shipping Co., now stranded at sea, soon should be able to dock in U.S. ports, but it remains unclear if the company can afford to pay the army of workers needed to unload the ships.
After a hearing Tuesday, U.S. Bankruptcy Judge John Sherwood agreed to bring Hanjin under the umbrella of U.S. bankruptcy law, temporarily preventing creditors in the U.S. from seizing assets.
But the judge’s order doesn’t guarantee that the ships’ cargo—which includes children’s toys, tires, clothes and computers—will make it to shore and onto store shelves soon. Since the carrier filed for bankruptcy in Seoul last week, ports, cargo handlers, truckers and railways have refused to touch Hanjin’s containers, fearing they won’t get paid.
“The logistical issues here are pretty substantial,” Judge Sherwood said at Hanjin’s debut appearance in U.S. Bankruptcy Court. “There’s a lot of manpower, time and expense that goes into bringing a cargo ship into port and unloading it.”
Judge Allows Hanjin Ships to Dock Safely in U.S. Ports - WSJ
Sept. 6, 2016 8:52 p.m. ET
Container ships operated by South Korea’s Hanjin Shipping Co., now stranded at sea, soon should be able to dock in U.S. ports, but it remains unclear if the company can afford to pay the army of workers needed to unload the ships.
After a hearing Tuesday, U.S. Bankruptcy Judge John Sherwood agreed to bring Hanjin under the umbrella of U.S. bankruptcy law, temporarily preventing creditors in the U.S. from seizing assets.
But the judge’s order doesn’t guarantee that the ships’ cargo—which includes children’s toys, tires, clothes and computers—will make it to shore and onto store shelves soon. Since the carrier filed for bankruptcy in Seoul last week, ports, cargo handlers, truckers and railways have refused to touch Hanjin’s containers, fearing they won’t get paid.
“The logistical issues here are pretty substantial,” Judge Sherwood said at Hanjin’s debut appearance in U.S. Bankruptcy Court. “There’s a lot of manpower, time and expense that goes into bringing a cargo ship into port and unloading it.”
Judge Allows Hanjin Ships to Dock Safely in U.S. Ports - WSJ
