Samsung, LG cargo rescued, taken to LA by Hyundai Merchant Marine ship
MAJOR victims of the Hanjin Shipping collapse, such as Samsung Electronics and LG Electronics, have been rescued by Hyundai Merchant Marine (HMM) that will take their massive export cargo to world markets.
HMM has now taken their exports, as well as others, to Los Angeles from Busan after many Hanjin ships were left stranded by the company's bankruptcy proceedings.
Bookings for the ship have reached more than 90 per cent, of which the two electronics makers accounted for about 60 per cent, according to HMM, reported Bloomberg News.
Many more are planned. Hanjin's Seoul-based rival has proposed a total of 13 extra services, four to the US and nine to Europe, as freight ranging from computer monitors to apparel pile up at various ports.
"It will help restore the supply chain," said Rahul Kapoor, a director at Drewry Financial Research Services in Singapore. "But it's going to take several weeks for this disruption to be cleared. You can't mend it overnight."
MAJOR victims of the Hanjin Shipping collapse, such as Samsung Electronics and LG Electronics, have been rescued by Hyundai Merchant Marine (HMM) that will take their massive export cargo to world markets.
HMM has now taken their exports, as well as others, to Los Angeles from Busan after many Hanjin ships were left stranded by the company's bankruptcy proceedings.
Bookings for the ship have reached more than 90 per cent, of which the two electronics makers accounted for about 60 per cent, according to HMM, reported Bloomberg News.
Many more are planned. Hanjin's Seoul-based rival has proposed a total of 13 extra services, four to the US and nine to Europe, as freight ranging from computer monitors to apparel pile up at various ports.
"It will help restore the supply chain," said Rahul Kapoor, a director at Drewry Financial Research Services in Singapore. "But it's going to take several weeks for this disruption to be cleared. You can't mend it overnight."