Retailers Breathing Easier As Hanjin Unloads More Cargo

by MR Magazine Staff

Workers continue to unload cargo from bankrupt Hanjin Shipping Co.’s vessels, somewhat easing fears that merchandise needed for retailers’ all-important holiday shopping season would be left stranded on ships or at ports. At this point, 28 vessels from Hanjin’s worldwide fleet of 97 container ships have offloaded their cargo, according to the Wall Street Journal. A Hanjin spokesperson said the company and the South Korean government are negotiating with port authorities in New York, Singapore and Manzanillo, Mexico to start unloading more cargo this week. Some 34 cargo-laden ships are still at sea, and 35 ships are headed back to South Korea, although it’s not clear whether the latter group still carries cargo. Read more at Retail Dive.