News / Hanjin to off-hire 38 chartered ships in bid to reduce outgoings and shore up cashflow

28/06/2016

Hanjin Shipping has confirmed to The Loadstar that it intends to off-hire 38 chartered-in vessels when their charters expire this year and in 2017.

Involving 20 containerships and 18 bulk vessels, it is the latest restructuring step by the shipping group to appease its creditors by significantly reducing its charter contract liability.

Hanjin did not advise which trades the ships are deployed on, or if they would be replaced by other tonnage, which conceivably could include ships operated by its vessel sharing partners.

Hanjin currently operates a fleet ...