Port of Virginia Announces New Restrictions in Wake of Hanjin Bankruptcy
The impact of the bankruptcy filing by South Korean ocean carrier Hanjin Shipping Co. continues to be felt in Hampton Roads.
The Port of Virginia on Sept. 2 updated some policies announced earlier, reflecting Hanjin's connections with other big ocean carriers that together make up the "CKYHE" alliance, by which they share space on one another's ships.
The port said that effective Sept. 1, it would not load any cargo from Cosco Container Lines, "K" Line, Yang Ming Line and Evergreen Line — the other alliance members — onto a Hanjin vessel.
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Also, Hanjin cargo will not be loaded onto any of the other members' vessels.
The restrictions were requested by the other members, according to a port statement issued Sept. 2:
"After careful consideration, the port agreed today to comply with the request."
The new restrictions follow others that took effect Aug. 31, banning inbound cargo from Hanjin, as well as Hanjin containers for export, at any of the port's marine or intermodal terminals.
Only empty Hanjin containers are being accepted at the port's Pinners Point Container Yard.
Hanjin's ships and containers are fixtures on Hampton Roads' waterfront. It's one of the largest ocean carriers in the world.
It filed for bankruptcy protection and faced the possibility of the detention and seizure of its ships by creditors, according to The Wall Street Journal.
Hanjin ranks No. 23 on the Transport Topics Top 50 list of the largest global freight carriers.
