South Korea's Hanjin Shipping, a major conduit of world trade and one of the container lines that regularly services the Fairview Container Terminal is currently involved in ongoing bankruptcy issues, a situation that has left the container vessel Hanjin Scarlet anchored in Prince Rupert harbour awaiting further direction.
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| The Hanjin Scarlet is currently listed as anchored in Prince Rupert harbour (green diamond) as it awaits further instructions related to financial issues with its parent company |
In a media release from Wendesday, the Prince Rupert Port Authority outlined the status of the shipping line and the impact that the receivership proceedings are having on its operations both world wide and for shipments through Fairview Terminal.
The Port noted through its statement that upon its arrival at Prince Rupert harbour on Tuesday evening, the Hanjin Scarlet had been directed towards an anchorage position in the harbour, which is where it remains as the courts in Korea and shipping officials world wide try to bring the entire situation to some sense of closure.
"The Port of Prince Rupert, together with its partners DP World and CN, are in communication and are actively working to realize a resolution to the situation."
Canadian National Railway, which provides the sole transportation system in and out of Fairview Terminal also issued a statement on Wednesday, providing the railways plan of operation when it comes to shipments from the Hanjin shipping line.
"CN will not accept any additional Hanjin export loads at our inland terminals going forward and at this point until further notice, will not accept any bookings from other steamship lines destined for Hanjin owned vessels."
That may not be as quick a fix as many might hope however, much of the business media of the last few days have provided further details on just what is at stake with the bankruptcy of the world's seventh largest shipping line, with many observers noting that this could be a very long process as opposed to one that is resolved in short fashion.
The majority of the cargo that is aboard the various inbound ships of the Hanjin line is reported to contain products destined for North American retail outlets, with September a busy season for those importing goods into North America. Back to school items and Christmas related merchandise is among some of the products currently in a state of limbo while the financial details are worked out across the Pacific trade routes
Beyond those goods that are currently trapped aboard the three year old Panamanian flagged vessel waiting for instructions as to their delivery status, there is also a human element for many to consider as the vessel sits at anchorage in the harbour.
Aboard the vessel currently at anchorage heading into the North American Labour Day weekend is a crew of ships' workers, all of them with no idea at the moment what their fate may be, or more importantly when they may be back in transit to their home ports.
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| The Hanjin Scarlet remains at anchor across from Rotary Waterfront Park in Prince Rupert at mid afternoon on Friday |
Some background on the Hanjin bankruptcy issues can be found below, we'll update the listings as other notes become available:
The local impact
Container ship left in Prince Rupert as owners go bankrupt (audio)
Giant container vessel stuck in Prince Rupert, company in receivership
South Korean cargo ship sits off Prince Rupert after company's financial woes
A South Korean cargo ship is sitting idly in a B.C. port while company struggles financially
Hanjin Shipping company files for Bankruptcy Protection
The world view
South Korean shipping firm's vessels stranded after filing for court protection
Hanjin Shipping files for receivership, as ports turn away its vessels
Hanjin ships, cargo and sailors stranded at sea
South Korea's Hanjin files for Bankruptcy, Leaving American Shippers in the Lurch
Who will benefit from the break-up of the world's seventh largest line in terms of fleet capacity?
Hanjin Shipping Files for Receivership
Hanjin bankruptcy filing causes global shipping crisis, retail fears
Hanjin Shipping bankruptcy causes turmoil in global sea freight
Hanjin Shipping: One company with 2.9% market share roils global trade
South Korea's Hard Line on Hanjin Shipping Signals New Attitude
Cargo and sailors stranded at sea as Hanjin bankruptcy causes global shipping chaos
Shipshape? What you need to know about Hanjin's troubles
Hanjin shipping crew in limbo but well looked after in Port of Vancouver
The Hanjin Shipping Collapse has left half of its vessels stranded
The good, Bad and Ugly of Hanjin
Hanjin Shipping receivership affects Seaspan Corp's charter operations
More items related to operations at the Port of Prince Rupert can be found on our archive page.
Cross posted from the North Coast Review
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