[201016.N.BIZ] Cargo Discharged In South Korea From 75pc of Hanjin Containerships

NEAR-BANKRUPT Hanjin Shipping has discharged the cargo from 76 of its 97 containerships in South Korea with another nine scheduled to offload by November 1.

But Hanjin was unable to stave off an arrest of one of the ships after a Korean court appeal proved unavailing, prompting concerns that other discharging vessels may share the same fate, reported Lloyd's Loading List.

The Changwon District Court dismissed an appeal to its decision to have the Hanjin Xiamen detained and sold at auction, a Hanjin official told Lloyd's List, confirming its previous ruling that although the ship is not technically owned by Hanjin.

It was, the court ruled, technically owned by a special purpose vehicle set up by Hanjin in Panama - it is "beneficially owned" a status shared by 33 other ships in carrier's fleet.

Souurce : HKSG.