[150916.EN.SEA] Fear of Australian Arrest Keeps Hanjin Ship Lying Off Melbourne

THE 4,253-TEU Hanjin Milano was drifting outside the Australian port of Melbourne as the financially stricken carrier feared the vessel may be arrested by its Rickmers owner, reports IHS Media.

"There is a chance that Rickmers may arrest the ship due to outstanding charter payments," said a source familiar with the situation.

More than 90 of Hanjin ships have been stranded worldwide as the company scrambles to get South Korean court protection recognised in other jurisdictions. US courts have offered limited protection on a case-by-case basis.

Thus, the 10,114-TEU Hanjin Greece docked in Long Beach on September 10 after lying off Southern California for 10 days, and the 8,000-TEU Hanjin Boston docked at Yusen Terminals. But the 4,275-TEU Hanjin Gdynia and 10,100-TEU Hanjin Jungil are still at anchor.

The berthing of the Greece and Boston was made possible by Hanjin Shipping winning Chapter 15 protection in the United States, which allows its vessels to call at US ports without being arrested.

Vessel-tracking data from IHS Maritime & Trade's AISLive shows that the Hanjin Milano departed Shanghai on August 23 and was scheduled to arrive in Melbourne on September 12.

The ship has been chartered from Rickmers Reederei GmbH & Cie since September 2009.

Hanjin Shipping, with over US$5 billion of debt, went into receivership on September 1 after losing banker support.

So far, it is known that the 3,711-TEU Hanjin Rome has been arrested in Singapore, the 5,752-TEU Hanjin Vienna has been arrested in Canada, and major commodity trading firm Glencore, whose bunker unit Chemoil is owed money by Hanjin Shipping, has seized the 3,600-TEU Hanjin California in Sydney's Port Botany.

World Fuel Services sought the arrest of the 4,250-TEU Hanjin Montevideo over arrears of more than $488,000, causing this ship and another vessel, the 8,000-TEU Hanjin Boston, to loiter off the Southern California coast to avoid arrest.

On September 10, the 10,114-TEU Hanjin Greece docked in Long Beach after waiting off the Southern California coast for 10 days to berth, and the Hanjin Boston, will berth at Yusen Terminals on Tuesday. The 4,275-TEU Hanjin Gdynia and 10,100-TEU Hanjin Jungil are still at anchor.

The berthing of the Greece and Boston was made possible by Hanjin Shipping winning Chapter 15 protection in the United States, which allows its vessels to call at US ports without being arrested.

The Hanjin Group, its chairman Cho Yang-ho, and Hanjin Shipping's former chairwoman Choi Eun-young, are contributing about $19 million to resolve the logistical chaos that erupted after South Korea's No 1 liner operator went into receivership.

Source : HKSG.