Tag: global maritime

Hanjin to spend $90 mn to ease shipping crisis

SEOUL, South Korea (AFP) — South Korea’s Hanjin Group said Tuesday it would provide its debt-ridden shipping unit with 100 billion won ($90.4 million) to help ease huge disruptions to global maritime freight. Hanjin, the world’s seventh largest shipping company, is seeking bankruptcy protection at home and in the US after creditors rejected its latest plan to deal with a $5.37 billion debt. Its bankruptcy would be by far the largest in the history of […]