SEPTEMBER 15, 2016 INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE THE LONG ISLAND IMPORT EXPORT ASSOCIATION MARSHA SALISBURY RESEARCH EDITOR, THE JOURNAL OF COMMERCE MARSHA. SALISBURY@IHSMARKIT. COM © 2016 IHS
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE THE HANJIN SHIPPING COLLAPSE: CONTAINER TRADE • AISLive ship tracking maps of Hanjin Shipping operating ships • Hanjin Shipping — by the numbers • Ocean container carriers & financial collapse — a history • South Korea government fund for ailing shipping firms • Timeline: Hyundai Merchant Marine, reorganization • Timeline: Hanjin Shipping, reorganization • U. S. Federal Maritime Commission • Chapter 15 of the U. S. Federal Bankruptcy Code 2
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE THE HANJIN SHIPPING COLLAPSE: CONTAINER TRADE • Container Carrier Mergers & Acquisitions, 2014 -present • Top 10 Container Carriers in U. S. Trade, PIERS • Top 10 Global Container Fleet Operators, Alphaliner • Top 10 Global Container Fleet Orderbooks, Alphaliner • Shanghai Container Freight Index (SCFI) 2010 -present, Shanghai Shipping Exchange • Hanjin Shipping sources for cargo and vessel information • Speaker contact and discount subscription information 3
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE AISLive — GLOBAL The whereabouts of Hanjin Shipping's GLOBAL container fleet as of noon EST Sept. 15, 2016. Source: AISLive is a sister product of The Journal of Commerce within IHS Markit, https: //www. ihs. com/products/ais-live-ship-tracker. html 4
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE AISLive — AMERICAS The whereabouts of Hanjin Shipping's AMERICAS container fleet as of noon. EST Sept. 15, 2016. Source: AISLive is a sister product of The Journal of Commerce within IHS Markit, https: //www. ihs. com/products/ais-live-ship-tracker. html 5
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE AISLive — EUROPE-MIDDLE EAST-AFRICA The whereabouts of Hanjin Shipping's EMEA container fleet as of noon. EST Sept. 15, 2016. Source: AISLive is a sister product of The Journal of Commerce within IHS Markit, https: //www. ihs. com/products/ais-live-ship-tracker. html 6
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE AISLive — ASIA The whereabouts of Hanjin Shipping's ASIA container fleet as of noon EST Sept. 15, 2016. Source: AISLive is a sister product of The Journal of Commerce within IHS Markit, https: //www. ihs. com/products/ais-live-ship-tracker. html 7
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE HANJIN SHIPPING CONTAINER TRADE – BY THE NUMBERS September 1, 2016: $14 billion Estimated cargo value, Korea Int’l Trade Association 8, 300 Estimated number of cargo owners, Korea Int’l Trade Association 540, 000 TEU+ Laden TEU aboard ships, Korean Ministry of Oceans & Fisheries 609, 535 TEU Container Fleet Capacity, Alphaliner 8
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE HQTRS: SOUTH KOREA USA Over 600, 000 TEU fleet capacity at Chapter 15 filing: 2016 Hanjin Shipping About 100, 000 TEU fleet capacity, prior to reductions: 1986 U. S. Lines Under 100, 000 TEU fleet capacity, prior to reductions: 2013 STX Pan Ocean 2011 2008 2004 2001 1995 1981 CHINA TAIWAN NORWAY Hainan POS Grand China Shipping The Containership Co. Dongama Shipping Shandong Yantai Kien Hung Shipping Cho Yang Lykes Lines Seatrain Lines Source: Alphaliner, others 9
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE South Korea Government Fund For Ailing Shipping Firms New South Korea government US$1. 2 billion fund for struggling South Korean shipping and shipbuilding firms is open only to those with debt: equity ratio below 400%. Created to bolster South Korean competitiveness requiring 'pain-sharing' by all interested parties. Both Hyundai and Hanjin were ineligible due to severely higher debt: equity ratios and both had debt payment issues including corporate bonds maturing in 2016 and 2017. In January the Korean Shipowners' Association requests immediate financial aid for both Hyundai Merchant Marine and Hanjin Shipping to overcome liquidity crises. In August the Korean Shipowners' Association presses for a Hanjin-Hyundai merger. In August, the second largest Korean container carrier, Hyundai proceeds into debt normalization plan with its creditors - while the largest Korean container carrier, Hanjin files for court receivership in South Korea. 10
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE 2016 Timeline — HYUNDAI MERCHANT MARINE Hyundai, the second largest Korean container carrier by TEU capacity, in voluntary MARCH restructuring agreement with creditors that include asset sales, debt adjustment with creditors and charter renegotiations. [Debt ratio was 5, 307% on March 31. ] Hyundai signs agreement with creditors to proceed into debt normalization plan. JULY Completes debt for equity swap for creditors after stakeholder 7: 1 capital reductions. New shares to shareholders, creditors, bondholders and shipowners in debt-load reduction. State-run Korea Development Bank becomes largest stakeholder. [Debt ratio now 200% - and newly eligible for gov't funding. ] Hyundai signs binding agreement with the 2 M vessel sharing agreement alliance of Maersk Line and MSC to commence in April 2017, remaining in the G 6 through March 2017. Subject to various final negotiations and regulatory approvals. SEPT. New Hyundai management team to be announced. FMC closed door staff briefing on 'Staff Briefing on the Maersk/MSC Vessel Sharing Agreement, FMC Agreement No. 012293‘ on Sept. 20. [Hyundai to join this 2 M VSA alliance in April 2017 subject to various regulatory approvals. ] www. fmc. gov/Meeting_920 -2016 11
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE 2016 Timeline — Hanjin AUG. Hanjin files voluntary restructuring plan with its creditors. Hanjin creditors led by Korea Development Bank reject Hanjin plan. Despite creditors' request for increased capitalization, Hanjin declined to further amend plan. The Korean banks thereafter gave notice to stop financial support to Hanjin as of September 4. Hanjin files main proceeding for court receivership in South Korea. Claims due Oct. 4, final report out Nov. 11. SEPT. Korea Ministry of Oceans and Fisheries estimates at least 540, 000 TEUs are aboard Hanjin vessels as of the first week of September. Hanjin seeks additional bankruptcy protection in all jurisdictions in which it operates. Hanjin files for Chapter 15 bankruptcy protection in U. S. Bankruptcy Court, (Case No. 16 -27041). U. S. Bankruptcy Court in Newark, N. J. , Docket 22, issues Chapter 15 provisional interim relief order preventing ship arrests and asset seizures on Sept. 6 until hearing on Sept. 9, at which time it was extended. CBP issues memo regarding documentation protocol regarding changes in Hanjin cargo movement/diversions. The UK, Japan and Singapore issue relief orders preventing ship arrests and asset seizures. Additional capacity announced by Hyundai Merchant Marine and regional South Korean carriers; 2 M members Maersk Line and MSC; and CMA CGM. A maritime lien was placed by federal Marshals on the Hanjin Montevideo near Long Beach breakwater - it allows the ship to enter the port, but prevents it from leaving. Ships in China, Singapore and Australia have been arrested. Hanjin Scarlet was worked at Prince Rupert and awaits green light for Seattle call. Although $90. 7 million was pledged to sweep up stranded containers, so far, $10 million was advanced by South Korean court, enough to discharge four U. S. West Coast ships, the Hanjin Gdynia, Hanjin Jungil, Hanjin Boston and Hanjin Greece. , of which the Hanjin Greece completed its Long Beach discharge. Awaiting $3. 5 million payment to move 9, 000 containers at U. S. ports for delivery to their final destinations. Hanjin Shipping's help desk will continue to operate throughout the Chuseok (Korean Thanksgiving) holiday Sept. 15 -16. 12
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE 2016 Timeline — FEDERAL MARITIME COMMISSION SEPT. 1, 8 FMC issues statement regarding status of Hanjin collapse: www. fmc. gov/NR 16 -17 - The Federal Maritime Commission has no jurisdiction when it comes to resolving bankruptcy claims and does not intercede in legal actions between third parties that will be heard by the courts. - This is a legal matter and as such, it is important that affected parties, including shippers, consult with their attorneys on what remedies are available to them. - The Commission will be vigilant in watching for, and quick to act on, any improper behavior by other carriers and regulated parties (such as marine terminal operators, non-vessel-operating-commoncarriers, and freight forwarders) that would constitute violations of the Shipping Act. 23: 24 -The Commission is concerned about the operational and competitive impacts of Hanjin Shipping's status on the shipping industry broadly. Staff will be closely monitoring for the foreseeable future for any developments that might impact shipping markets. 20 FMC closed door staff briefing on 'Hanjin Shipping Bankruptcy and Shipping Disruptions', www. fmc. gov/Meeting_9 -20 -2016' 13
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE What's Chapter 15 Of The U. S. Federal Bankruptcy Code? ADDRESSES CROSS-BORDER INSOLVENCY CASES EXCERPTS: Chapter 15 is a new chapter added to the Bankruptcy Code by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. It is the U. S. domestic adoption of the Model Law on Cross-Border Insolvency promulgated by the United Nations Commission on International Trade Law ("UNCITRAL") in 1997. The U. S. interpretation must be coordinated with the interpretation given by other countries that have adopted it as internal law to promote a uniform and coordinated legal regime for cross-border insolvency cases. Generally, a Chapter 15 case is ancillary to a primary proceeding brought in another country, typically the debtor's home country. An ancillary case is commenced under Chapter 15 by a "foreign representative" filing a petition for recognition of a "foreign proceeding. " The U. S. court is authorized to issue preliminary relief as soon as the petition for recognition is filed. 11 U. S. C. § 1519. If a full bankruptcy case is initiated by a foreign representative (when there is a foreign main proceeding pending in another country), bankruptcy court jurisdiction is generally limited to the debtor's assets that are located in the United States. 11 U. S. C. § 1528. Immediately upon the recognition of a foreign main proceeding, the automatic stay and selected other provisions of the Bankruptcy Code take effect within the United States. 11 U. S. C. § 1520. The purpose of Chapter 15, and the Model Law on which it is based, is to provide effective mechanisms for dealing with insolvency cases involving debtors, assets, claimants, and other parties of interest involving more than one country. This general purpose is realized through five objectives specified in the statute: (1) to promote cooperation between the United States courts and parties of interest and the courts and other competent authorities of foreign countries involved in cross-border insolvency cases; (2) to establish greater legal certainty for trade and investment; (3) to provide for the fair and efficient administration of cross-border insolvencies that protects the interests of all creditors and other interested entities, including the debtor; (4) to afford protection and maximization of the value of the debtor's assets; (5) to facilitate the rescue of financially troubled businesses, thereby protecting investment and preserving employment. 11 U. S. C. § 1501. In addition, under chapter 15 a U. S. court may authorize a trustee or other entity (including an examiner) to act in a foreign country on behalf of a U. S. bankruptcy estate. 11 U. S. C. § 1505. For more details/protocol: http: //www. uscourts. gov/services-forms/bankruptcy-basics/chapter-15 -bankruptcy-basics 14
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE Container Carrier Mergers & Acquisitions, 2014 -present As of September 6, 2016 M&A ACTIVITY 2016 • Hapag-Lloyd and United Arab Shipping Co. sign a business combination agreement with support of their stockholders on July 18. However, some contractual and regulatory approvals are still required prior to an anticipated year-end 2016 merger closing. • CMA CGM Group acquires majority share of Neptune Orient Lines, (NOL) and its principal operating brand APL on June 9, and closes its voluntary general offer to remaining NOL stockholders on July 18. NOL becomes a wholly-owned subsidiary of CMA CGM Group following the completion of a compulsory acquisition process. NOL delists from the Singapore Stock Exchange on September 6. • King Ocean acquires the services of Interocean Lines and Trinity Shipping Line on May 1. • Cosco and China Shipping officially restructure and merge as China Cosco Shipping Corp. , effective Feb. 18. 2015 • Crowley Maritime completes the purchase of Sea. Freight Line, Sea. Freight Agencies, and Sea. Pack, liner and logistics companies serving Florida, the Caribbean and South and Central America on Nov. 2. • Hamburg Süd acquires the container liner business of Compañía Chilena de Navegación Interoceánica S. A. (CCNI) upon closing on March 27, 2015. Hamburg Süd will continue the CCNI brand operations in the west coast of South America trade with Asia, Europe and North America. • Pacific International Lines acquires Mariana Express Lines on March 11, 2015. • Matson acquires Horizon Lines including its Alaska operations in late May 2015 upon the completion of the sale of Horizon's Hawaii operations to The Pasha Group. Separately, Horizon Lines terminated its Puerto Rico liner operations at year-end 2014 • Saltchuck acquires Tropical Shipping from AGL Resources, which merged with Nicor in 2011. • Baltic Reefers acquires NYKCool from NYK Reefers Ltd. The name changed to Cool Carriers AB; its 25 vessel fleet will remain independent. • The merger of Hapag-Lloyd with the container business activities of CSAV was completed Dec. 1 upon approvals from competition authorities. Source: http: //www. joc. com/maritime-news/container-lines/container-carrier-mergers-acquisitions. html 15
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE TOP 10 CONTAINER CARRIERS IN U. S. TRADE January-June 2016, ocean carrier percentage market share by laden TEUs TOTAL TRADE U. S. EXPORTS U. S. IMPORTS 1 CMA CGM Group/APL 12. 4% MSC 13. 0% CMA CGM Group/APL 12. 7% 2 MSC 12. 1% CMA CGM Group/APL 11. 9% MSC 11. 6% 3 Maersk Line 9. 2% Maersk Line 9. 4% Maersk Line 9. 0% 4 Hapag-Lloyd/CSAV Group* 7. 2% Hapag-Lloyd/CSAV Group* 7. 7% China Cosco Shipping 7. 6% 5 Evergreen Line 6. 8% Evergreen Line 5. 8% Evergreen Line 7. 4% 6 China Cosco Shipping 6. 1% OOCL 4. 7% Hapag-Lloyd/CSAV Group* 6. 9% 7 Hanjin Shipping 4. 7% NYK Line 4. 4% Hanjin Shipping 5. 2% 8 OOCL 4. 5% Hanjin Shipping 3. 8% OOCL 4. 3% 9 NYK Line 4. 1% China Cosco Shipping 3. 7% "K" Line 4. 3% 10 "K" Line 4. 0% Hamburg Sud Group/CCNI 3. 5% NYK Line 3. 9% #13 Hyundai Merchant Marine 3. 2% #13 Hyundai Merchant Marine #14 Hyundai Merchant Marine 3. 3% 3. 0% *Not including UASC as the combination has not yet closed. Source: PIERS, a sister product of The Journal of Commerce within IHS Markit, www. piers. com 16
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE ALPHALINER'S TOP 10 GLOBAL CONTAINER FLEET OPERATORS As of September 1, 2016 Existing Cellular Fleet Rank Global Fleet Operator* 1 Maersk Group 15. 4% 3, 193, 142 622 1, 761, 256 263 2 Mediterranean Shipping 13. 4% 2, 767, 882 488 1, 055, 967 3 CMA CGM Group/APL 10. 9% 2, 246, 620 495 4 China Cosco Shipping 7. 4% 1, 532, 443 5 Evergreen Line 4. 6% 6 Hapag-Lloyd/CSAV Group* 7 Market % Share TEU Owned Ships % Chartered 359 44. 8% 190 1, 711, 915 298 61. 8% 1, 011, 166 140 1, 235, 454 355 55. 0% 276 463, 317 81 1, 069, 126 195 69. 8% 957, 827 188 557, 365 107 400, 462 81 41. 8% 4. 4% 916, 850 163 506, 011 70 410, 839 93 44. 8% Hanjin Shipping 2. 9% 609, 536 98 274, 078 37 335, 458 61 55. 0% 8 Hamburg Süd Group/CCNI 2. 9% 604, 569 117 292, 311 44 312, 258 73 51. 6% 9 Yang Ming Line 2. 8% 582, 039 105 203, 810 43 378, 229 62 65. 0% 10 OOCL 2. 8% 574, 512 100 397, 531 53 176, 981 47 30. 8% 2. 1% 437, 512 60 165, 080 22 272, 432 38 62. 3% Hyundai Merchant Marine TEU 1, 431, 886 14 Ships TEU Chartered Total Neither Hanjin nor Hyundai have current orderbooks. NEWBUILDINGS to be delivered in 2016 stands at 2. 4% of the existing global container fleet. Source: Alphaliner, www. alphaliner. com/top 100/index. php 17
JOC TOP 100 U. S. IMPORTERS IN 2015 ALPHALINER'S TOP 10 GLOBAL CONTAINER FLEET ORDERBOOKS As of September 1, 2016 Order Rank Global Fleet Operator* 1 2 3 4 5 6 7 8 9 10 China Cosco Shipping Mediterranean Shipping Maersk Group Evergreen Line CMA CGM Group/APL NYK Line PIL/Mariana Express OOCL MOL Yang Ming Line Average Ship On Order Capacity On Order TEU Ships On Order 560, 888 401, 063 387, 150 367, 272 235, 624 182, 208 141, 600 126, 600 120, 900 98, 396 35 16, 025 30 13, 369 29 13, 350 39 9, 417 24 9, 818 13 14, 016 12 11, 800 6 21, 100 6 20, 150 7 14, 057 Orderbook as % of existing Existing fleet TEU fleet rank 36. 6% 14. 5% 12. 1% 38. 3% 10. 5% 36. 8% 39. 4% 22. 0% 23. 2% 16. 9% 1, 532, 443 2, 767, 882 3, 193, 142 957, 827 2, 246, 620 494, 824 359, 611 574, 512 521, 984 582, 039 4 2 1 5 3 13 16 10 12 9 Neither Hanjin nor Hyundai have current orderbooks. NEWBUILDINGS to be delivered in 2016 stands at 2. 4% of the existing global container fleet. Source: Alphaliner, www. alphaliner. com/top 100/index. php © 2016 IHS 18
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE SCFI — SHANGHAI CONTAINERIZED FREIGHT INDEX To U. S. WEST COAST base ports* 14. 8 PERCENT ABOVE YEAR-END 2015: The September 14, 2016 U. S. West Coast base port average spot rate was $1, 742 per FEU, $7 or 0. 4 percent below the previous week, although $363 or 26. 3 percent above a year ago, and $224 or 14. 8 percent above year-end 2015. This index was nearly 2. 5 times its record low $725 of April 22, 2016, and $311 or 21. 7 percent above its Oct. 16, 2009 base rate of $1, 431 per FEU. $ CURRENT 9/14/2016 $1, 742 HIGH 7/2/2010 $ 2, 833 BASE 10/16/2009 $ 1, 431 LOW 4/22/2016 $ 725 3000 2500 2000 1500 1000 500 Base ports defined: U. S. West Coast — Los Angeles/Long Beach/Oakland; U. S. East Coast — New York/Savannah/Norfolk/Charleston. The freight rate includes ocean freight and surcharges including BAF/FAF/LSS*, EBS/EBA, CAF/YAS, PSS, WRS, PCS, SCS/SCF/PTF/PCC. *Low Sulphur Surcharge (LSS) was included from year-end 2014. Source: Shanghai Shipping Exchange, www 1. chineseshipping. com. cn/en/indices/scfinew. jsp January 1, 2010 -September 14, 2016 Mid-Autumn Festival: September 15 -16, 2016. 19
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE SCFI — SHANGHAI CONTAINERIZED FREIGHT INDEX To U. S. EAST COAST base ports* 4. 2 PERCENT BELOW YEAR-END 2015: The September 14, 2016 East Coast base port average spot rate was $2, 447 per FEU, sequentially flat, while up $20 or 0. 8 percent year-over-year. This level reflects a $999 or 69 percent jump from its record low $1, 448 per FEU of Dec. 25, although $114 or 4. 5 percent below year-end 2015 spike. The index was $8 or 0. 3 percent above its Oct. 16, 2009 base rate of $2, 439 per FEU. $ $1, CURRENT 9/14/2016 $2, 447 HIGH 2/13/2015 $5, 049 BASE 10/16/2009 $2, 439 LOW 12/25/2015 448 Base ports defined: U. S. West Coast — Los Angeles/Long Beach/Oakland; U. S. East Coast — New York/Savannah/Norfolk/Charleston. The freight rate includes ocean freight and surcharges including BAF/FAF/LSS*, EBS/EBA, CAF/YAS, PSS, WRS, PCS, SCS/SCF/PTF/PCC. *Low Sulphur Surcharge (LSS) was included from year-end 2014. Source: Shanghai Shipping Exchange, www 1. chineseshipping. com. cn/en/indices/scfinew. jsp January 1, 2010 -September 14, 2016 Mid-Autumn Festival: September 15 -16, 2016. 20
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE SCFI — SHANGHAI CONTAINERIZED FREIGHT INDEX To NORTH EUROPE base ports* 21. 6 PERCENT BELOW YEAR-END 2015: The September 14, 2016 North Europe base port average spot rate was $966 per TEU, $23 or 2. 4 percent above the week before, and $510 or more than double from a year ago. While this level was more than four times above its record low $205 per TEU level of June 19, 2015, matched March 18, 2016; it was $266 or 21. 6 percent below both its year-end 2015 results, and its Oct. 16, 2009 base rate of $1, 232 per TEU. $ CURRENT 9/14/2016 $966 HIGH 3/5/2010 $2, 164 BASE 10/16/2009 $1, 232 LOW 6/19/2015, 3/18/2016 $205 Base ports defined: North Europe — Hamburg/Antwerp/Felixstowe/Le Havre; North Mediterranean Sea — Barcelona/Valencia/Genoa/Naples. The freight rate includes ocean freight and surcharges including BAF/FAF/LSS*, EBS/EBA, CAF/YAS, PSS, WRS, PCS, SCS/SCF/PTF/PCC. January 1, 2010 -September 14, 2016 *Low Sulphur Surcharge (LSS) was included from year-end 2014. Source: Shanghai Shipping Exchange, www 1. chineseshipping. com. cn/en/indices/scfinew. jsp Mid-Autumn Festival: September 15 -16, 2016. 21
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE SCFI — SHANGHAI CONTAINERIZED FREIGHT INDEX To NORTH MEDITERRANEAN base ports* 31. 6 PERCENT BELOW YEAR-END 2015: The September 14, 2016 North Mediterranean base port average spot rate was $860 per TEU, sequentially spiking $158 or 22. 5 percent, and spiking $412, or nearly doubling year-over-year. While this level was $665 more than the record low $195 per TEU of October 16, 2015, matched March 18, 2016; it was $397 or 31. 6 percent below year-end, and $419 or 32. 8 percent below its Oct. 16, 2009 base rate of $1, 279 per TEU. $ CURRENT 9/14/2016 $860 HIGH 2/26/2010 $2, 067 BASE 10/16/2009 $1, 279 LOW 10/16/2015, 3/18/2016 $195 Base ports defined: North Europe — Hamburg/Antwerp/Felixstowe/Le Havre; North Mediterranean Sea — Barcelona/Valencia/Genoa/Naples. The freight rate includes ocean freight and surcharges including BAF/FAF/LSS*, EBS/EBA, CAF/YAS, PSS, WRS, PCS, SCS/SCF/PTF/PCC. January 1, 2010 -September 14, 2016 *Low Sulphur Surcharge (LSS) was included from year-end 2014. Source: Shanghai Shipping Exchange, www 1. chineseshipping. com. cn/en/indices/scfinew. jsp Mid-Autumn Festival: September 15 -16, 2016. 22
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE HANJIN SHIPPING: CARGO & VESSEL INFORMATION HANJIN TRACING – B/L, Container # www. hanjin. com 2. Move to "e-Service" clicking the image 3. Click "Track & Trace > Cargo Tracking" on the lower part of screen 4. Input B/L No. (Carrier's B/L) or Container No. and search. HANJIN HELP DESK America 1 -480 -927 -3600 China RHQ 86 -21 -2899 -5365 Europe 49 -40 -37 -685 -569 Japan 81 -03 -5443 -7632 South East Asia 65 -6573 -5206~9 HANJIN OPERATING VESSEL STATUS At Hanjin. com, click on News, Customer Advisory and download report: Operating_Vessel_status (select most current date) All Hanjin Ships shown here. 23
INDUSTRY GAME-CHANGER: THE HANJIN SHIPPING COLLAPSE Thank you for reading The Journal of Commerce! Marsha Salisbury Research Editor, The Journal of Commerce | Maritime & Trade 2 Penn Plaza East, 12 th Floor | Newark, NJ 07105 -2257 T: +973 776 7828 C: 908 608 7501 marsha. salisbury@ihsmarkit. com Twitter: @marshsalisbury Linked. In: Marsha Salisbury THE JOURNAL OF COMMERCE was founded 189 years ago in 1827. Here is the history of the JOC written upon its 175 th anniversary. http: //www. joc. com/sites/default/files/joc_inc/history/p 1. html CHEERS! Save 20% on an annual JOC subscription! PROMOCODE >> JOCVIPMS http: //www. joc. com/marketingservices/subscription-options & we have terrific GROUP subscription rates too! 24
Скачать презентацию SEPTEMBER 15 2016 INDUSTRY GAME-CHANGER THE HANJIN SHIPPING
060de59339640ed7fda898bfc4110114.ppt