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Hanjin's arrested bulker freed in South Africa after deal with charterer
A 82,158-dwt bulker operated by the cash-strapped Hanjin Shipping has been released after being arrested in Richards Bay, South Africa for unpaid charter fees, reports Korea's Yonhap news agency.
"We agreed with the shipowner that the normal vessel operation is the most important for interests of the both parties," Hanjin said, without specifying the owner's name. "We agreed to resume operation first and decide on the charter fees through additional negotiations."
The incident took place while the shipping company has been negotiating with tonnage providers to get rates cut on chartered ships, a crucial first step outlined by bondholders of the financially-troubled company.
Hanjin operates 95 containerships and 56 bulk carriers, 91 of them chartered by foreign owners. Last week, creditors of Hanjin decided to extend the maturity of debts by four months, clearing one of several hurdles the shipper must cross to get back on the normalisation path.
"We agreed with the shipowner that the normal vessel operation is the most important for interests of the both parties," Hanjin said, without specifying the owner's name. "We agreed to resume operation first and decide on the charter fees through additional negotiations."
The incident took place while the shipping company has been negotiating with tonnage providers to get rates cut on chartered ships, a crucial first step outlined by bondholders of the financially-troubled company.
Hanjin operates 95 containerships and 56 bulk carriers, 91 of them chartered by foreign owners. Last week, creditors of Hanjin decided to extend the maturity of debts by four months, clearing one of several hurdles the shipper must cross to get back on the normalisation path.
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