It is almost impossible for Korean Shipowner and Operator Hanjin Shipping to resurface despite it going under court protection. In the past some Korean dry bulk shipping companies that were protected by the court made a comeback and survive but Hanjin Shipping is a container operator and it will be difficult to comeback. Shippers would not want to continue using a Liner shipping company Hanjin Shipping that has collapsed. Liner operators like Hanjin Shipping operates differently from bulker operators because Liner operators have more customers, more ports to call and the volumes of cargoes vary. On
the bulker front, an embattled company can rely on long-term COA (contracts of affreightments)to turn things around. A containership company will have difficulty making freight income once it collapses.
In 2015, Samsun Logix, Daebo International Shipping and
SW Shipping has also sought court receivership. Hanjin Shipping is the second liner company with Hyundai Merchant Marine and 5th largest Korean Shipping Company which was established in