SEOUL: Hanjin, the South Korean shipping company that filed for bankruptcy in Seoul on August 31, has paralyzed business for millions of people around the world. Many in the global village are ranting with as much as $14 billion (US) worth of cargo stranded at sea. In Canada the port of Prince Rupert in British Columbia is where two Hanjin ships were marooned this past week. Jamie Kerr, of Montreal, is the owner of Fabco Custom. He oversees the production of elements for clients in North America. He has five containers on three Hanjin vessels; two containers are sitting in port, and three are on ships crossing the ocean now.
Kerr said he began the day on August 31st, with a 4 am conference call with clients and company owners to avoid cancelled orders. “The whole thing is a complete disaster” “I’ve been shipping on this lane (Shanghai to Prince Rupert) for 15 years and we’ve been using Hanjin vessels for a very long time, it’s a very efficient, cost effective way to go across the Pacific.”
Containers stacked at a cargo terminal of Hanjin Shipping in Busan, South Korea. According to reports on September 7th, Prince Rupert is one of the few ports where Hanjin has managed to convince the authorities to begin processing their containers. “We were very fortunate. We only got caught with five containers on the water and those containers will be released eventually,” Kerr said, grateful that his products are not perishable. For those with perishable goods, he says, “the whole thing is a complete disaster.” Kerr says several of his clients have been patient. “They are understanding to a point, but if this goes on for even another week they will no longer be understanding.” And he will have penalties to pay on late orders.
