Independent journal on economy and transport policy
08:21 GMT+2
Hanjin Shipping calls for help amid receivership threat
(YONHAP News Agency)
August 28, 2016
SEOUL, Aug. 28 (Yonhap) -- Cash-strapped Hanjin Shipping Co. said Sunday that its creditors' extended help is crucial for its survival as its negotiations with owners of chartered ships over a cut in leasing rates and to postpone debt repayments to foreign creditors made significant progress.
The country's No. 1 container shipping line said Seaspan, a leading operator of container ships, has agreed to cut the leasing rate, and global financial companies such as Credit Agricole have expressed their consent to a proposal to delay the repayment of loans borrowed to buy container ships and other vessels ...... Read more on YONHAP News Agency
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