Logistics News

No respite for Hanjin on World Maritime Day

Hanjin Milano discharged its containers at Patrick's Melbourne terminal yesterday


While the global shipping industry celebrates World Maritime Day, South Korean shipping line Hanjin is struggling to ward off liquidation of assets to discharge its Won5.2 trillion (A$6.2 billion) debt.

Hanjin’s vessels remain stranded across the globe nearly a month after the company filed for bankruptcy protection.

Last week, creditors seized one of its vessels, the Hanjin California, in Sydney prompting a Federal Court intervention that allowed the Hanjin Milano to dock at the Port of Melbourne without being arrested.

The Hanjin Milano reportedly discharged its containers at the Patrick terminal yesterday, six days after getting the legal go-ahead.  

However, with Hanjin seafarers stuck on board the stranded ships around the world for nearly a month, the situation still looks grim.

Many of Hanjin vessels have been refused entry to international and Australian ports on concerns related to payments and container accommodation.

Back home, infrastructure and transport minister Darren Chester released a statement to mark the World Maritime Day that, he says, celebrates the “critical link between shipping and the global economy”.

The minister says Australia’s economic prosperity is built on a safe, efficient international shipping industry.

“It is estimated that around 80 per cent of global trade by volume and more than 70 per cent of global trade by value is carried by sea and handled by ports around the world,” Chester says.

“For Australia, the share is even higher with more than 99 per cent of our international trade carried by sea and 30 per cent of our GDP dependent on international shipping.

“Annually, more than 5,700 ships make in excess of 25,000 visits to Australian ports, with 10 per cent of the world’s total trade in goods passing through our ports.

“Domestically, coastal shipping has the potential to grow its share of Australia’s domestic freight task to ease pressure on road and rail infrastructure and reduce congestion in our cities.”

The World Maritime Day is an initiative of the International Maritime Organization (IMO), a specialised agency of the United Nations that holds the responsibility of ensuring the safety and security of the shipping industry and the prevention of marine pollution by ships.

Australia is a member of the IMO’s governing Council.

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