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Finance

Hanjin’s Bankruptcy Almost Starved This Stranded Ship Crew

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October 28, 2016, 4:12 AM ET
US-SKOREA-SHIPPING-HANJIN
Tug boats push the Hanjin Greece container ship to dock for unloading at the Port of Long Beach, California, on September 10, 2016. The ship had been stranded at sea for more than a week for fear that it could be seized by creditors if it came to shore. A Hanjin Shipping spokesman said a US court had issued an order allowing it to unload some cargo without fear of creditors seizing its ships. As of late September 9, 92 of 141 ships being operated by the world's seventh largest shipping firm were stranded at sea. / AFP / DAVID MCNEW (Photo credit should read DAVID MCNEW/AFP/Getty Images)Photograph by David McNew—AFP/Getty Images
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A container vessel that spent months sitting off Canada’s west coast due to the collapse of South Korea shipping company Hanjin docked in Vancouver on Thursday, according to union officials and ship tracking data.

The Hanjin Scarlet arrived at DP World’s Centerm terminal within the Port of Vancouver by early afternoon, according to Thomson Reuters ship tracking data.

Terminal operator DP World and Hanjin could not be immediately reached for comment.

The vessel, with nearly 800 containers on board, had been sitting some 28 miles outside Prince Rupert for several months, said Peter Lahay, an inspector and coordinator with the International Transport Workers Federation.

The arrival comes as creditors globally line up claims after the company applied for court receivership. Hanjin’s collapse also forced ports around the world to deny service to its ships for fear they would not be paid.

South Korea’s Hanjin Shipping filed for court receivership at the end of August, which set the stage for its assets to be frozen as ports from China to Spain denied access to its vessels.

 

Prince Rupert Port Authority spokesman Michael Gurney said that the Hanjin Scarlet arrived into the port on Aug. 30 and discharged some containers at one of its terminals. It then remained under arrest and at anchor in the outer harbor for nearly two months, he added.

The ship, which has 24 crew members, will unload cargo on board, Lahay said. He added that crew members had less than 10 days worth of food and provisions left, and had run out of fresh food.

Earlier this month, Hanjin said it would sell its major businesses, including its Asia to U.S. route network. The firm had a total of 6.03 trillion won ($5.41 billion) as of the end of June, according to court filings.

Meanwhile, the Hanjin Vienna also remains at anchor off Victoria, British Columbia, according to ship tracking data. Local reports say that the Vienna is also arrested. According to an advisory on Hanjin’s website, it is set to discharge in Vancouver on Nov 3.

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