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Seoul court may sell Hanjin Shipping
A spokesperson for the Seoul bankruptcy court has stated that they now intend to assess if Hanjin Shipping assets would have more value if they were sold separately. Previously the Seoul court had considered selling Hanjin Shipping in its totality. The spokesperson has said that the new plan for analysis will include workers and a few ships and will bring results quickly.
Reportedly, the court has already established a council to consider the case of Hanjin Shipping, but it has not yet formulated a plan concerning the trade between Asia and Europe. Hanjin Shipping is required to submit a plan for reorganisation before December 23. Even though the court's bankruptcy protection is already in place, a vessel under the flag of Hanjin Shipping was detained in South Korea on Friday. It is the first time that a vessel of Hanjin Shipping has been detained in South Korea.
In addition, according to a report by the Wall Street Journal, the worlds largest cooperative transport company, Maersk Line, will not take over Hanjin Shipping. Instead, Maersk Line intends to buy its ships.
Previously, Maersk Line has stated that it is now looking to buy a cooperative transport company that is on the verge of bankruptcy instead. Be that as it may, Maersk Line still intends to purchase some useable ships from the 37 vessels that were part of the Hanjin Shipping fleet.
Source: www.58jzx.com
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