Kyunghee Park | Bloomberg | Sep 4th, 2016
Hanjin Shipping Co. gained approval Sept. 1 for its court receivership filing after creditors refused to continue supporting the company, leaving about half its fleet and their contents in limbo.
The stranded vessels, at ports in 23 countries including China and the U.S., have been seized or left anchored without work being done from them, the company said.
The filing comes during the peak shipments period, meaning goods ranging from televisions to bags to furniture destined for sale during the year-end Thanksgiving and Christmas holidays could face delays. Goods sail about 10 days to reach Los Angeles from Asia, and could take as many as 30 days to Rotterdam.