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posted by martyb on Monday September 05 2016, @06:41AM   Printer-friendly
from the impending-price-increases dept.

Hanjin Shipping Co Ltd has filed for chapter 15 bankruptcy:

Troubled container shipper Hanjin Shipping Co Ltd (117930.KS) has filed for bankruptcy in the United States to protect its vessels from being seized by creditors, the [Wall Street Journal reported], citing a filing by the South Korean firm.

The company's troubles are causing some alarm about the effects on global trade:

Hanjin Shipping's market share stands at 2.9 percent of total container capacity, but the shipper's recent filing for court receivership is putting global commerce in a tight spot ahead of the key holiday season. The unraveling has sent spot freight rates soaring in recent days while its vessels are being blocked from docks at ports in large numbers, stranding their contents for now.

"There is an immediate impact, as shipments already loaded on Hanjin ships are expected to face delays as a result of creditor actions, and recovery could take weeks or even months to be resolved," said H.J. Tan, a consultant at Alphaliner. "Shipments that have not been loaded will also need to be unstuffed, and shippers will need to find alternative carriers that are able to carry them."

The good news is that since Hanjin's global market share is relatively small, it can be filled soon by competitors, he said. Hyundai Merchant Marine plans to step up services by deploying at least 13 of its ships to fill demand on two routes that had been exclusive to Hanjin, Reuters reported. [...] "The timing is unfortunate, as it coincides with the peak shipping season to the U.S. and Europe that typically runs from July to September," Tan said. For now, retailers are also watching the situation unfold.


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  • (Score: 2, Funny) by Anonymous Coward on Monday September 05 2016, @07:50AM

    by Anonymous Coward on Monday September 05 2016, @07:50AM (#397704)

    You should buy from your local neighborhood meth lab.

    Starting Score:    0  points
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  • (Score: 2) by Runaway1956 on Monday September 05 2016, @07:58AM

    by Runaway1956 (2926) Subscriber Badge on Monday September 05 2016, @07:58AM (#397705) Journal

    The local rednecks don't know grams from pounds - I'm going to trust them to cook a batch of shit that I'm going to inject into my arm? Yeah, right . . . .

    I'll just pass on the drugs, except for cafien and nicotine, with an occasional dab of alcohol.

    • (Score: 0) by Anonymous Coward on Monday September 05 2016, @08:13AM

      by Anonymous Coward on Monday September 05 2016, @08:13AM (#397714)

      Well let's see now. You don't trust the locals, and you don't want to put your faith in global strangers instead. Right then. Crawl in a hole and die.

      • (Score: 1, Funny) by Anonymous Coward on Monday September 05 2016, @08:24AM

        by Anonymous Coward on Monday September 05 2016, @08:24AM (#397717)

        Someone needs a hug. Come here, you.

        • (Score: 3, Informative) by Gaaark on Monday September 05 2016, @03:29PM

          by Gaaark (41) on Monday September 05 2016, @03:29PM (#397811) Journal

          "Don't toy with me, Marcie. I'm horny and I've been to Buffalo."

          --
          --- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
          • (Score: 1, Redundant) by Gaaark on Tuesday September 06 2016, @03:39AM

            by Gaaark (41) on Tuesday September 06 2016, @03:39AM (#397962) Journal

            Informative? Steve being horney is informative? ;/

            --
            --- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---
    • (Score: -1, Troll) by Anonymous Coward on Monday September 05 2016, @08:49AM

      by Anonymous Coward on Monday September 05 2016, @08:49AM (#397724)

      WTF? You don't shoot meth into your arm. Maybe the problem is that you aren't a very well educated drug user and not your local redneck dealers' problems with converting weights and measures.

      Don't forget that the number one cause of bad customer service is being a bad customer.

      • (Score: 2) by FatPhil on Monday September 05 2016, @09:21AM

        by FatPhil (863) <pc-soylentNO@SPAMasdf.fi> on Monday September 05 2016, @09:21AM (#397731) Homepage
        I'm pretty sure 90% of those "faces of meth" were injecting - it's the quickest high for the truly desperate.
        --
        Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves
      • (Score: 3, Funny) by Anonymous Coward on Monday September 05 2016, @09:22AM

        by Anonymous Coward on Monday September 05 2016, @09:22AM (#397732)

        WTF? You don't shoot meth into your arm. Maybe the problem is that you aren't a very well educated drug user and not your local redneck dealers' problems with converting weights and measures.

        Actually, you can shoot it, smoke it, sniff it, eat it, or even put it up your ass [tweaker.org].

        Shame on you for telling Runaway how he should or shouldn't do meth! I'm sure he could "booty bump" [tweaker.org] it just fine.

      • (Score: 0) by Anonymous Coward on Monday September 05 2016, @05:32PM

        by Anonymous Coward on Monday September 05 2016, @05:32PM (#397850)

        > you aren't a very well educated drug user

        Runaway don't need meth.
        He gets high naturally.
        He tweaks on news stories about hillary clinton, and then comes here to post about his trips.

        If only he would try some marijuana gummies. Of everyone on this site, he and buzzard are the two most desperately in need of some pharmacological mellow.

        • (Score: 0) by Anonymous Coward on Monday September 05 2016, @08:20PM

          by Anonymous Coward on Monday September 05 2016, @08:20PM (#397884)

          Personally I can't stand cannabis edibles. Too easy to take too much or too little. Takes too long. Vape or water pipe are the way to go.

          • (Score: 0) by Anonymous Coward on Tuesday September 06 2016, @01:17AM

            by Anonymous Coward on Tuesday September 06 2016, @01:17AM (#397937)

            Personally I can't stand cannabis edibles. Too easy to take too much or too little.

            Practice makes perfect!