Hanjin Ships Get Stranded in High Seas, Roiling Supply Chain - Bloomberg
Hanjin Shipping Co.’s vessels are getting stranded at sea after the South Korean container mover filed for court protection, roiling the supply chain of televisions and consumer goods ahead of the holiday season.
LG Electronics Inc. is trying to find new carriers for its goods, the world’s second-largest manufacturer of televisions said. Shipments through Hanjin account for between 15 percent and 20 percent of LG’s deliveries to America. Hyundai Merchant Marine Co., the nation’s second-biggest container line, stepped in, saying it plans to add 13 more vessels to ease the squeeze.