Category Archives: Bankruptcy

Track All Of Bankrupt Hanjin’s “Ghost Ships” In Real Time | Zero Hedge

Tyler Durden's picture

After two weeks of impenetrable legal limbo, there was some good news for owners of cargo stuck in the bowels of container ships belonging to the recently bankrupt South Korean shipping giant, Hanjin Shipping. As Bloomberg reported according to the insolvent shipper, at least some vessels are in line to unload cargo at Long Beach port in California after a U.S. court Friday granted bankruptcy protection, easing a gridlock that disrupted delivery of goods.

Three more Hanjin ships are waiting at the port to clear their freight once Hanjin Greece, which is currently offloading, clears early Sept. 12 local time, Hanjin said in response to a query. Truck drivers probably will begin moving containers from the Greece on Monday while the vessel prepares to leave late in the day for the Port of Oakland, said Teamsters spokeswoman Barbara Maynard and shipping traffic controllers, cited by Reuters. Port workers began taking Hanjin Greece’s cargo ashore at 8 a.m. local time Sunday, and the Hanjin Gdynia will follow, Noel Hacegaba, chief commercial officer of the Port of Long Beach, said in a telephone interview Sunday.

Continue reading Track All Of Bankrupt Hanjin’s “Ghost Ships” In Real Time | Zero Hedge

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Khazarian mafia bosses offer to return Tsarist gold to Russia in exchange for shelter – Weekly geo-political news and analysis Message from Benjamin Fulford

Another big sign of Khazarian mafia defeat has been the degrading treatment given to UNITED STATES OF AMERICA corporate spokesperson Barack Obama in Asia and elsewhere. Obama was literally denied red carpet treatment on his arrival in China for last weekend’s G20 summit. This was in sharp contrast to the super VIP treatment given to Canadian Prime Minister Justin Trudeau who has been recommended to China by the WDS as a better leader for North America than either Hillary Clinton or Donald Trump. Trudeau was treated like a superstar in China during a one week visit that resulted in Canada publicly dumping its support of the US corporate government by announcing its intention to join the China led AIIB.

Continue reading Khazarian mafia bosses offer to return Tsarist gold to Russia in exchange for shelter – Weekly geo-political news and analysis Message from Benjamin Fulford

“Tremendous Ripple Effects” – Retailers Demand Bailout After Hanjin Collapse Paralyzes Trade | Zero Hedge

Tyler Durden's picture

When we first reported about the imminent paralysis of an unknown number of global supply chains and a potential shock in worldwide trade as a result of the historic bankruptcy of Hanjing Shipping, one of the world’s largest container shipping companies which handles 8% of Trans-Pacific trade volume for the US market, we concluded that “the global implications from the bankruptcy are unknown: if, as expected, the company’s ships remain “frozen” and inaccessible for weeks if not months, the impact on global supply chains will be devastating, potentially resulting in a cascading waterfall effect, whose impact on global economies could be severe as a result of the worldwide logistics chaos.The good news is that both economists and corporations around the globe, both those impacted and others, will now have yet another excuse on which to blame the “unexpected” slowdown in both profits and economic growth in the third quarter.

However, not even this extreme forecast captured what would happen just 48 hours later, when as the WSJ reported overnight, retailers have gone far beyond simply blaming the Hanjing bankruptcy for their upcoming woes: they are petitioning for a government bailout, or as the WSJ put it, they are “bracing for a blow as they stock up for the crucial holiday sales season, asked the government to step in and help resolve a growing crisis.”

Continue reading “Tremendous Ripple Effects” – Retailers Demand Bailout After Hanjin Collapse Paralyzes Trade | Zero Hedge