The collapse of South Korean ocean carrier Hanjin is the largest container shipping bankruptcy in history; the implications are felt globally and will continue for an indeterminable period of time.
Since Hanjin, who also holds Korean Air, filed for bankruptcy protection on August 31, the transportation industry and supply chain has watched as vessels are seized by creditors, turned away from ports, or sitting idle for fear workers will not be compensated for their labor. Additional effects include a rise in shipping costs, an abundance of containers with no place to be stored and shortages of chassis which are causing delivery delays. Little recourse has been available while waiting for court systems to make determinations; solutions are forthcoming but the recovery may be slow.
Paxton has worked tirelessly to clear, transload, rebook, etc. the small number of shipments it had aboard Hanjin vessels.
Paxton understands the importance of selecting partners who can provide stability in their field - ensure your transportation provider is doing a cost benefit analysis that takes partner stability and reliability into account.