Hanjin cargo owners say bid to unload vessels isn’t working

An attempt to bring Hanjin Shipping Co. vessels into U.S. ports and unload them while the company goes through bankruptcy in South Korea isn’t working, lawyers for cargo owners said in a New Jersey court.

U.S. Bankruptcy Judge John K. Sherwood, overseeing the company’s bid to win protection from creditors in the U.S., heard complaints Thursday in Newark from lawyers for the cargo owners.

Some said Hanjin was asking to be paid in cash for the release of goods, or even to be paid twice, amid confusion about how service providers, fuel providers and others that support the business will be paid.

Another lawyer said cargo was dropped at a port that hadn’t been agreed upon and the cost of retrieving it would be more than the value of the goods themselves.

The case is In re Hanjin Shipping Co. Ltd., 16-27041, U.S. Bankruptcy Court, District of New Jersey (Newark).

 

Bloomberg