With a top 10 shipping company declaring bankruptcy and having their ships and cargo either turned away or basically impounded, what might the impact be on either the weakened shipping industry (of late due to overcapacity) or the holiday retail season?
petertenthije wrote:If anything getting rid of excess capacity might be a blessing in disguise.
My fear is the bankruptcy of Hanjin could cascade through evey industry that relies on a steady supply chain... which is pretty much every industry you can think of. Most companies have ever decreasing stock levels of both finished products and raw materials. It's just a matter of time for factories to grind to a halt as necessary products are stuck on Hanjin operated vessels and ports.
ltbewr wrote:I suspect some form of emergency financing, perhaps from Korean banks, will be arranged to move current vessels to ports to unload and return ships and crews to home ports. Still this means a significant drop in capacity at a peak shipping time to the North America and other markets with premiums on shipping prices by other operators and slightly higher wholesale and retail prices for end purchasers.
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