Hanjin lost 'game of chicken' among global shippers: chairman

Hanjin lost 'game of chicken' among global shippers: chairman
 

The collapsed Hanjin Shipping Co Ltd (117930.KS) could not compete against global rivals that were supported by their governments, the chairman of its parent firm told a parliamentary hearing on Tuesday.
The world's seventh-largest container shipper sought court receivership in late August after its creditors led by a South Korean state bank halted further support, stranding $14 billion in cargo and sending waves through global trade networks.
"Hanjin Shipping lost the game of chicken played among large shippers," Hanjin Group chairman Cho Yang-ho told the hearing.
"As a... read more

 
4 October 2016 in Business, Views: 29
Source: Reuters
Share:
  •  





    News Widget for Webmasters



    Bring Eugene's son back home immediately

    Realtime News

     

    «
    »
    Mo Tu We Th Fr Sa Su
      1 2 3 4 5 6
    7 8 9 10 11 12 13
    14 15 16 17 18 19 20
    21 22 23 24 25 26 27
    28 29 30 31