Korea's largest ocean carrier and the world's seventh largest overall, Hanjin Shipping filed for receivership on August 31st. If you are one of the customers caught up in this debacle, take heart you are not alone. One media source, American Shipper is reporting that up to 70% of U.S. importers and exporters have cargo aboard Hanjin vessels or in Hanjin possession. The company's filing has in turn caused a spike in Trans-Pacific rates. Also see our article on CBP Guidance on Vessel Diversions for Hanjin.
Michael Laden is a Founder and Principal of the firm. He is a licensed customs broker and has been toiling in the international trade industry for almost 40 years. His full bio can be found on the ABOUT US page.