hp for ($i=0; $i]+>!is", "", $news['Contains'][$i]['Body']); ?>

Plan to Ease Cargo Crisis at Ports Due to Hanjin Bankruptcy

Hanjin Shipping, which handled almost 8 percent of the trans-Pacific trade volume for the USA market, stopped accepting new cargo.

U.S. Bankruptcy Judge John Sherwood approved a motion by Hanjin Shipping who sought to extend to the United States the protection from creditors which it has also done in home country South Korea. On Sept. 6, Hanjin Group announced plans to provide Hanjin Shipping with liquidity with its assets as collateral and to give the company an emergency cash infusion of 100 billion won (US$91.4 million), including the private assets of Cho Yang-ho, the group chairman. About 70 container movers and 15 bulk ships are stranded at 50 ports in 26 countries, according to Hanjin.

For more details on effect of congestion see original article.

"Maher is now being victimized by having hundreds of Hanjin containers clogging up its facility and impeding the ability of Maher to properly service its other customers", the company said in court papers on Thursday.

At the same event, Emanuel Chirico, CEO of Calvin Klein and Tommy Hilfiger owner PVH Corp, said Hanjin handles a small portion of the company's business, and "it really hasn't impacted us at all". "It will take several months to sort through the legalities, but any rate increase will be temporary", said David St. Amand, president of Navigistics Consulting.

While ships that have already docked are likely to be unloaded in the near future, the fate of ships and cargo still at sea appear far less certain. To receive a final order on bankruptcy protection, Hanjin representatives will have to return to court on Friday.

Henderson thrilled as hot Reds inflict the first defeat on Conte
Dejan Lovren's opener and a brilliant Jordan Henderson strike from range gave the visitors a two-goal lead before half-time. We've had a great week in training so everyone was positive.

The Korea Development Bank, one of the company's largest creditors, has yet to approve a disbursement of new funds to help alleviate the situation.

Hanjin's woes show the container-shipping industry is in bad health, limping from one exigency to another since the 2008 global financial crisis brought trading to its knees. Retailers in the United States depend heavily on it to bring such things as shoes and flat-screen televisions from the Pacific Rim, a top trading partner for the USA market, especially California.

Due to the Hanjin stoppage, Chinese suppliers for major brands like Hugo Boss, Nike and Ralph Lauren are scrambling to find alternate means of transporting goods to factories, often at great costs, according to the American Journal of Transportation.

Three Hanjin ships continued to sit Tuesday off the coast of Southern California, with their crews (normally about 25 workers) languishing.

Dozens of giant cargo ships have been drifting at sea around the world, stranding crews and billions of dollars worth of goods, after the financial collapse of the shipping company.

Related News:

  • Snowden says will vote in US presidential election

    Snowden says will vote in US presidential election

    Snowden , who, while in Russian Federation is a director at Freedom of The Press , rejected multiple points of the report. Edward Snowden , exiled to Moscow after leaking classified documents, is to vote in the USA presidential election.

    Penn State bros proudly show off disgusting Joe Paterno shirts

    He finished his coaching career with 409 victories, but was sacked on the heels of Sandusky being arrested for child sexual abuse. From there it was a race to the finish and a hurdle over a diving tackler that gave Penn State a 34-24 lead some 55-yards later.

    GB's Murray powers past Pella to level semi vs Argentina

    Daniel Orsanic explained why he has choosen Del Potro for the doubles match: 'I thought that it was the best doubles team we have. Murray was off court for more than five minutes and lost only one game on the resumption, breaking the Pella serve twice.
  • Oil up but IEA supply glut warning limits gains

    Oil up but IEA supply glut warning limits gains

    Brent North Sea crude for November delivery shed $1.0 to $47.32 a barrel compared with the close on Monday. Analysts and traders had expected the agency to report that crude stockpiles rose by 3.8 million barrels.

    Chun claims 2nd Major with record-low score

    The 22-year-old Chun led from start to finish and her 21-under-par total of 263 broke the previous record low score by two shots. That tournament was Chun's first start after a month out with a back injury caused in freakish circumstances.

    US to Russia: Syria military cooperation not guaranteed

    Clashes were also reported between troops and insurgents as well as shelling in two areas of the Syrian capital, Damascus. Three more died and 13 were injured in air strikes in rebel-held Idlib province on Friday, the Observatory said.
  • Rio 2016 Olympics: Onye wins gold for Nigeria in women's shot put

    Rio 2016 Olympics: Onye wins gold for Nigeria in women's shot put

    The archery competitions at the 2016 Rio Paralympic Games started on September 10, and will wrap up on September 17. The four medals the country won means it is already their most successful Paralympic haul of all time.

    Bernie Sanders blasts Trump birther statement: 'This is pathetic'

    Congress, but I think that before you cast a protest vote, because Clinton or Trump will be president, think hard about it. So far, Sanders' pitch to his supporters has had less to do with Clinton's merits than with Trump's shortcomings.

    US Bombers Fly Over South Korea in Solidarity Against North Korea

    The latest test coincided with the 68th anniversary of North Korea's founding last Friday. The US use of Guam-based bombers to make a statement on the Korean Peninsula is not new.
  • Vin Diesel wants to resurrect Paul Walker for more Fast & Furious films

    Vin Diesel wants to resurrect Paul Walker for more Fast & Furious films

    Caleb added to Entertainment Tonight: "I had a phone call with Vin for about an hour and we really discussed this a while back". Paul was so protective of all of us, he was a very private person".
    Colin Powell in leaked email: Israel has 200 nukes

    Colin Powell in leaked email: Israel has 200 nukes

    Israel is one of the few countries that did not sign the NPT, along with self-admitted nuclear powers India and Pakistan. Leeds said Netanyahu "said all the right things about the president and all the things he has done to help Israel".
    Kiren Rijiju blames Congress internal dissent for Arunachal development

    Kiren Rijiju blames Congress internal dissent for Arunachal development

    The Peoples Party of Arunachal was founded in 1979 and is a regional party of the state. The PPA now has 42 MLAs in the 60-member Assembly, while the BJP has 11 legislators.


Most liked

How Will RGIII's Injury Impact the Browns?
It might be considered a rivalry in Cleveland, but Baltimore does not feel that way as the Ravens are 25-9 against the Browns . We have plenty to say each week about the Baltimore Ravens , but it is also nice to hear the opposing team's point of view.

Gronkowski out again for Patriots with hamstring issue
Running back Arian Foster looks like he's done and is injured with a groin injury , despite the play of the offensive line. Garoppolo completed passes to seven receivers before his injury , including six completions to Julian Edelman .

Brees passes Marino for third place in all-time passing yards
The Saints had no timeouts left as coach Payton was forced to use them to try to save time on the clock. Williams left in the first quarter against NY with a possible concussion and concern about his spine.

Titans at Lions: 5 best fantasy options
Lions TE Eric Ebron matched career high with five receptions last week and scored as he did previous four games with five catches. Tennessee was in prime position to pull of an impressive victory over Minnesota after taking a 10-0 lead into halftime.

Samsung faces suit after Florida man suffered burns from Note 7 explosion
You can also use a Samsung's new recall website to check too - just enter your phone's IMEI or serial number. It said property damage included fires in cars and a garage.

Anger about poker games preceded senior apartment shooting
Long described the gunman as an elderly male and says he was a resident of the complex on Cheyenne's northeast side. A pensioner has killed one person and injured two others after opening fire at an old people's home in Wyoming .

Iran Football 5-a-side Wins Silver at Rio Paralympics
The excellent performance of Tunisian athletes is no surprise as they have recorded more success in previous Paralympics Games. The javelin thrower Devendra Jhajharia won the gold in F46 event by beating his own record.

UPSET CITY: North Dakota St tops No. 13 Iowa on final play
North Dakota State comes to Kinnick Stadium today as the five-time defending Football Championship Subdivision champion. These two teams are very similar in style and preparation. "If they are recruiting somebody, that gets our attention".

CHELSEA, Conte: "Oscar is in my plans, I am glad he stayed"
He told Chelsea TV: "I think this is the past [his previous three trophies won with Chelsea ], I need to win again". It's easier to do that in Italy where you can control the situation better.

Super Serena Seals 307th Slam Win
Johanna Larsson hits a forehand during her third-round match against Serena Williams at the 2016 U.S. The win against Larsson was Williams' 307th career victory in Grand Slam events .

Workers repairing pipeline that spill gas near Birmingham
The pipeline runs from Texas to New Jersey, supplying fuel to states in the Southeast and on the East Coast. The spill was first detected on September 9, but it's unclear exactly when it first occurred.

William steps in as Essex dignitary slips up
Prince George, 3, now attends school around three days per week at Westacre Montessori near the family's country home in Norfolk. There were also lighter moments during the discussion when William told the parents how "very perceptive" youngsters could be.

Abu Sayyaf extremists free Norwegian hostage in Philippines
The Abu Sayyaf released Norwegian hostage Kjartan Sekkingstad on Saturday, Western Mindanao Command (Wesmincom) spokesman Maj. At least 10 foreign nationals are still held hostage by the Abu Sayyaf, including Indonesian sailors and Dutchman Ewold Horn.

EU Summit to Discuss Ways to Boost Bloc's Economy Competitive Ability
Senior officials in Brussels and national capitals say they are very anxious that Britain complete its divorce by mid-2019. The following press release was issued by the European Council on September 16, 2016 21:25.

Senate leaders call for support for Zika emergency response funding
WASHINGTON (AP) Senate Democrats have for the third time blocked a Republican measure to battle the Zika virus. Since then, Zika has begun to spread locally in Florida , ramping up pressure to act, notes USA Today .