Container owners scrambling after Hanjin Shipping bankruptcy

Hanjin reports 60 vessels "waiting in open sea," resulting in widespread shipping rate increases.

After initially rejecting a request for a spending package to help deliver container cargo stuck on bankrupt Hanjin Shipping vessels around the world, the board of the largest investor in Hanjin approved last weekend a $55 million investment, which will be matched by the South Korean government.

The move has allowed some stranded Hanjin ships with import containers off U.S. ports to start unloading cargo. However, the Midwest Shippers Assn. (MSA) reported that there has been scarce

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