Hanjin Bankruptcy Demonstrates Fragility of Ocean Freight Market Prior to “Black November”
NC State SCRC
SEPTEMBER 9, 2016
This challenge has been also impacted by the growing discontent on the part of retailers and customers who are unhappy with the trend towards larger slow-steaming ships, which leaves more inventory on the water for a longer period of time. The recent bankruptcy announcement of Hanjin, a major shipping line, on the Friday before the last Labor Day long weekend, was a shock to everyone working in the global logistics shipping industry.