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Oct 15, 2016

HANJIN BANCKRUPTCY * USA: Hits West Coast Ports

* California - Import volumes sank at the ports of Long Beach and Oakland in September


--- The bankruptcy of global ocean carrier Hanjin Shipping Co. battered U.S. West Coast seaports in September... For weeks after the South Korean operator filed for bankruptcy protection, its fleet of dozens of vessels—about 3.2% of global container capacity—sat idle in international waters with billions of dollars in cargo trapped on board. The disruption came as retailers were stocking their shelves for the busy holiday season, a time that usually results in among the strongest months at U.S. ports... But delays and confusion are mounting. Thousands of Hanjin containers—unloaded from ships and emptied of their imported goods—clutter warehouse yards and parking lots, many of them attached to trailers that port truckers need to move other companies’ goods on and off the docks... This week, Hanjin started accepting empty container drop-offs at port terminals in Long Beach and Seattle, relieving some of those issues... 
(PHOTO: BLOOMBERG NEWS - Import volumes at the ports of Long Beach and Oakland declined last month as Hanjin Shipping filed for bankruptcy protection. Above, the Hanjin Montevideo container ship sits anchored near the Port of Long Beach, Calif)   --  Los Angeles, CAL, USA - The WSJ, by ERICA E. PHILLIPS - Oct. 13, 2016

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