The bankruptcy of the world's seventh largest maritime carrier sent shockwaves throughout the supply chain. Today, a South Korean court officially declared the shipping line bankrupt, starting the liquidation process.
But the event's long-resolution was, at minimum, an insightful wake up call for the importance of supply chains. To recognize this, Supply Chain Dive put together a timeline of the major events since the carrier filed for bankruptcy.
Key
These events highlight the various ways the bankruptcy affected shippers.
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Aug 31
Hanjin files for bankruptcy protection
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Sept 1
Hyundai Merchant Marine embarks on Hanjin rescue mission
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Sept 6
Hanjin moves to save seized ships
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Sept 10
Hanjin receives protection, ships begin unloading
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Sept 14
South Korea dismisses bailout, liquidation seems likely
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Sept 19
South Korean court orders Hanjin to downsize for cash
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Sept 20
In wake of Hanjin, shippers prep for consolidation
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Sept 22
Capital influx for Hanjin helps clear cargo
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Sept 26
Expansion hungry Maersk sets sights on Hanjin assets
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Oct 3
Industry awaits Maersk's move regarding Hanjin
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Oct 7
Ports mull next steps as Hanjin containers pile up
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Oct 11
Hanjin accepts empty containers at West Coast terminals
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Oct 20
Ashley Furniture spars with Hanjin over unfulfilled obligations
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Oct 21
Hanjin sale of West Coast terminals signals 2M preference
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Oct 25
Creditors face South Korean filing deadline for claims against Hanjin
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Oct 27
Hanjin bankruptcy damages add up to $800M and counting
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Nov 3
Hanjin pledges to remove all empties, freeing much needed chassis
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Nov 10
South Korea reveals final bidders for Hanjin's assets
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Nov 14
Korea Line wins bid for Hanjin assets
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Nov 23
Korea Line purchases some, not all Hanjin assets
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Dec 1
HMM, MSC submit joint bid for Hanjin's West Coast terminals
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Dec 13
Hanjin is better off liquidated, PwC tells Korean court
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Dec 14
HMM drops bid for Hanjin's terminal stake
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Jan 4
Korea Line forced to forego Hanjin route by parent company
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Jan 10
As Hanjin's vessel assets find a home, its terminal asset transfer is challenged
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Jan 20
MSC buys Hanjin's 54% West Coast port terminal stake, HMM takes on 20%
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Feb 2
Hanjin's receivership process comes to an end
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Feb 8
Drewry begins evaluating the shipping industry's credit
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Feb 16
HMM acquires more Hanjin terminals in Asia
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Feb 17
South Korean court declares Hanjin officially bankrupt
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Editor's Note: Hanjin's bankruptcy and liquidation was made official Feb. 17, but the repercussions of the event are far from over. Subscribe to Supply Chain Dive for continued coverage.
