What Happened to Korea's Biggest Shipping Line?
In 2016, Hanjin Shipping, Korea's biggest container shipping line, abruptly filed for reorganization. The company had once been the country's pride and joy - a worthy sibling alongside flagship carrier Korean Air. The unexpected insolvency roiled the markets and caused global chaos in the shipping industry. Once they had been the fourth biggest container line in the world. In 2016, they had 97 ships and called on 90 different ports in over 35 countries around the world. But the company sailed into troubled waters after the Global Financial Crisis. Freight rates crashed through the floor, and the company vanished underneath the waves. Links: The Asianometry Newsletter: https://asianometry.com Patreon: / asianometry
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