Case Study: The Hanjins Shipping Company

Introduction
The Hanjins shipping company is the largest container shipping company in the worldwide and it is number one in the Korea. And it is established in the South Korea in 1949 and the United States. Moreover, the Hanjins shipping company exposed for financial large wherever it lost the shares of great of their company with it recourse to request protection from bankruptcy. In this assignment I am going to write about The Shipping Industry and Hanjin. I will focus in many points which are the impact of Hanjin’s circumstances to the international shipping community, Predict the reaction of Hanjins’ competitors, Generalise the opportunities available to Hanjins competitors, Estimate the consequence of Hanjins case to ship owners and

However, increases in cost and decreases in services need to be reported to the Federal Maritime Commission. The Federal Maritime Commission (FMC) needs to hear from shippers as quickly as possible if they think a business and entity in the international shipping industry and advantage of the case and breaking the shipping. The Federal Maritime Commission (FMC) is aware that Hanjin shipping company has advised it is customers which the company application to engage in a voluntary restructuring process was denied by it is creditors. Moreover, the Federal Maritime Commission (FMC) is aware which Hanjin shipping company has disclosed and it has filed for court receivership and that these two actions that impact caused the American shipping community about the cargo in transit with Hanjin shipping company. Hanjin shipping company was planned to be a part of a new alliance called the alliance. But, due to its collapse the alliance is not moving forward as planned. On the other hand, the Hyundai Merchant Marine Company which was part of the G6 alliance might be exchange the Hanjin shipping company as it was supposed to be cooperation 2M to improve its presence in the Asian market, but the 2M Companies backed down from the deal as Hanjin shipping company collapse

In addition, the bill of lading plays a crucial role in the benefit and protection of cargo owner and shippers. Bill of lading has many functions which are evidence of the contract of carriage which the contract between a seller and buyer was already established when the buyer placed the order with the seller and they both discussed and agreed. Also, other function is receipt for the goods which upon the issuance of the bill of lading it provides a proof that the cargo has received by the carrier in good condition. Moreover, the bill of lading insures the right to its holder to claim the goods being transferred. Through disruptions in the cargo movement for example in Hanjins shipping company case the bill of lading can turn to be very useful in order to track the goods by cargo owners and shippers. In addition, the carrier is obliged by the bill of lading to complete the delivery of those goods and to compensate the shippers for any delay or loss. Furthermore, the bill of lading is document of title to the goods. It means that the cargo may be transferred to the holder of the bill of lading which then gives the holder of the bill of lading and to claim the cargo and further transfer it to