A vessel stuck off the Southern California coast was the first Hanjin ship in the U.S. to start unloading since the company’s financial collapse last week.
The Hanjin Greece, which had recently been parked near the Mexican border, docked early Saturday at the Port of Long Beach’s Total Terminals International, where Hanjin owns a majority stake.
The movement came after a U.S. bankruptcy judgeissued an order allowing the financially ailing Hanjin Shipping Co. provisional protection from creditors so vessels could dock and unload products, and retailers could begin selling those products in stores.
It’s the first visible sign the standstill from the of the seventh largest shipping company could be easing.
“This is a big relief for cargo owners and good news for the American consumer just in time for the holiday shopping season,” said Noel Hacegaba, the Port of Long Beach’s chief commercial officer and director of operations.
Source: Press Telegram