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Friday, 2 September 2016
quote [ The bankruptcy of the Hanjin shipping line has thrown ports and retailers around the world into confusion, with giant container ships marooned and merchants worrying whether hundreds of tonnes of goods being carried by the South Korean company will reach shelves. ]
It is an event like this that underscores how fragile the global economy really is. The cumulative effects of this, if it is not seen to quickly are an immediate rise in shipping fees and layoffs in manufacturing and retailing across the globe. Oh....and sparse shelves come Christmas....
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kylemcbitch said @ 3:47pm GMT on 2nd September
I don't think you understand how important Hanjin is? They are one of those institutions that are "too big to fail." They failed, this is going to hurt badly for those that rely on import/exports.
kylemcbitch said @ 3:53pm GMT on 2nd September
I don't think you understand how important Hanjin is? They are one of those institutions that are "too big to fail." They failed, this is going to hurt badly for those that rely on import/exports. There are companies which move greater amounts of shipping, but they do so with larger fleets, of smaller ships. For the most part, the top #7 shipping companies are usually working at full capacity, all the time.
Hanjin was 8th ranked, and there is serious question if there is enough shipping capacity between the lower ranked shipping to make up for it, because there almost certainly isn't in the higher ranked ones.
<-- Entry / Current Comment
kylemcbitch said @ 3:47pm GMT on 2nd September
I don't think you understand how important Hanjin is? They are one of those institutions that are "too big to fail." They failed, this is going to hurt badly for those that rely on import/exports. There are companies which move greater amounts of shipping, but they do so with larger fleets, of smaller ships. For the most part, the top #7 shipping companies are usually working at full capacity, all the time.
Hanjin was 8th ranked, and there is serious question if there is enough shipping capacity between the lower ranked shipping to make up for it, because there almost certainly isn't in the higher ranked ones.
