Samsung Electronics seeks help from U.S. court to retrieve cargo from Hanjin ship

September 9, 2016

SEOUL, Sept. 9 (Yonhap) — Samsung Electronics asked a U.S. local court to allow it to unload its goods from container ships owned by troubled shipper Hanjin Shipping Co., industry sources said Friday.

In a written request filed on Thursday with the Bankruptcy Court in Newark, New Jersey, Samsung said it would pay for cargo handlers to get its products off two Hanjin vessels. About US$38 million worth of Samsung products, including finished products and parts, are being held on the vessels.

Cargo handling operators refused to work for the shipping company because they were worried that the cash-strapped firm could not make payment.

Samsung seems concerned that if it cannot retrieve its goods soon, it might strain the supply chain ahead of the U.S. shopping season, including Black Friday in November.

The court will hold a hearing on Friday local time to make a decision on the request. It will also rule on the bankruptcy protection filed last Friday by Hanjin Shipping, which seeks to protect its U.S. assets.

This photo shows Hanjin Shipping Co.'s cargo at Busan Port on Sept. 9, 2016.

This photo shows Hanjin Shipping Co.’s cargo at Busan Port on Sept. 9, 2016.

One Comment

  1. s.venkateshwaran

    September 10, 2016 at 7:49 PM

    Hanjin Shipping
    Don’t giveup.