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Last Hanjin vessel Sold for scrapping.

The last container vessel belonging to the former South Korean shipping giant, Hanjin Shipping was sold on March 1, according to Alphaliner.

The name Hanjin will at last disappear from the annals of the container shipping industry as the 5,302 TEU Hanjin Rome is sold for Demolition.

The containership had been under arrest since August 29. Following the sale by the Singapore Supreme Court, Hanjin Rome departed Singapore on March 2 and is currently on its way to Chittagong for scrapping.

The total number of container vessels that were operating under the umbrella of Hanjin Shipping as at the time of its filing for receivership on August 31, 2016 were 97.

With the latest sale,  we can say that all their vessels have been sold, returned to their owners or recovered by creditors.

Hanjin’s involvement in container shipping has come to an end after a 40 year history that begun in 1977.

“Hanjin’s sudden departure has left a vacuum in the market and most of its ships were unable to find any gainful employment during the six months period that followed the cessation of regular liner operations,” Alphaliner said.

As at March 7, 48 vessels featuring a total capacity of 389,300 TEU, of the 97 ships formerly operated by Hanjin, remain idle.

Source : worldmaritimenews

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