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Hanjin Shipping Case Study

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Background of Hanjin Shipping Co Ltd The Hanjin Shipping Co.Ltd is a Korean global carrier that was established in 1977 .This company is a family-run parent conglomerate which is The Hanjin Group . Besides that , Hanjin Shipping leading a fleet of 123 vessels transporting containers , bulk cargo , liquefied natural gas and oil , and also serves 70 ports in 35 nations (referenceofbusiness). Hanjin Shipping also transport over 100 million tons of cargo annually . There are 4 regional headquarters that consists of US , Europe , Asia and South West & East Asia . In March 1990 , Hanjin branched out into trucking and warehousing by purchase of Korea Freight Transport Company . In addition , The Hanjin was known as the 7th largest container transportation and shipping company in the world (Hanjin Shipping) . Factors of Hanjin Bankruptcy The financial struggles of Hanjin Shipping were determinable to an ongoing slumped in the container shipping industry that is the result of many interrelated factors that consists of a weak global GDP , overloaded on container vessels , bloated US retail inventories , changing consumer spending patterns ,Chinese economic slowdown and also muted growth in demand for container shipping . The downturn has dented profits and crippled the financial health for the majority of the top twenty ocean carriers (Contributors) . Subsequently , Hanjin was applied to its creditors for debt restructuring in order to avoid formal dissolution proceedings . Hanjin

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