Fall of Hanjin Shipping and other Maritime stories: September issue

Each month we bring to you the important happening from the maritime and shipping industry. We only bring the news that are in some way relevant to seafarers. We do not choose a news just to fill the space. Moreover we not only try to post the news but also do an analysis of that news. Here are the main stories of September 2016. Fall out of Hanjin Shipping : Main story If you have been following social media or you have had the chance of reading any maritime magzine, you would know there was something serious about Hanjin that happened last month. Hanjin was all over the internet. Some described it as "Lehman" moment for shipping. What is the issue ? The problem is not new and had started way back in 2011. Like many other companies, Hanjin has been posting loss from 2011 onwards. Companies cannot run with losses and they need cash to run the show. This cash can only come either through profits or through people and companies investing in the company. Many creditor invested money in Hanjin hoping the conditions would improve and they will get their money back with a good profit. Korean state bank, Korean development bank was the main creditor in this case. On 30th August, Korean bank withdrew its support saying the funding plan by Hanjin's parent's company is not sufficient to tackle the shipper's debt. This withdra...