Hanjin Shipping - number of TEUs 2016

The statistic shows Hanjin Shipping's number of twenty-foot equivalent units between February 9 and September 7, 2016. Hanjin Shipping owned ships with a capacity of around 274,000 TEUs in May 2016. The abbreviation TEU stands for twenty-foot equivalent units.

Additional information about Hanjin Shipping

In the beginning of August 2016, Hanjin Shipping was ranked as the seventh largest container ship operator worldwide. On August 31, 2016, Hanjin Shipping’s debt hit 5.5 billion U.S. dollars, its assets were frozen, and its goods, which were valued at several billions of U.S. dollars, were held aboard 68 of the shipper’s vessels; one of the ships was put on hold in Australia, although it was supposed to dock at a terminal of the world’s second largest marine terminal operator, Hutchison Port Holdings. The month of August marked the dawn of troubled times for the South Korean ocean shipping line, as the company began seeking protection from creditors in 43 countries. Furthermore, bad news did not stop in September, as several ships were requested to be returned to shipowners.

While the reason is likely to be found in the sector’s notorious overcapacity and weak demand, it remains unclear what the repercussions will be. This notwithstanding, the incident is predicted to roil the entire container shipping industry and beyond. This disruption caused by Hanjin Shipping has not remained only within the ocean shipping industry. South Korea is a key exporter of toys and electronic devices; Samsung Electronics relies on Hanjin for about 40 percent of its export shipments from South Korea. Some of the shipper’s duties may be taken over by Hyundai Merchant Marine, which accounts for about 14.4 percent of containerized cargo shipped between South Korea and North America.

Hanjin Shipping's number of twenty-foot equivalent units between February 9 and September 7, 2016

OwnedCharteredOrderbook
September 7, 2016292,311318,25030,400
August 15, 2016292,311318,84330,400
July 12, 2016274,078342,2840
June 13, 2016274,078351,3380
May 18, 2016274,078339,7339,030
April 20, 2016274,078339,3159,030
March 21, 2016274,078347,1659,030
February 9, 2016274,078346,69218,060
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Source

Release date

2016

Region

Worldwide

Survey time period

February to September 2016

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