South Korean Shipping Company goes bankrupt, causes worldwide chaos

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http://www.bloomberg.com/news/articles/2016-09-07/nike-polo-s-marooned-suppliers-race-to-meet-thanksgiving-rush
>Nike, Polo’s Marooned Suppliers Race to Meet Thanksgiving Rush

http://www.usatoday.com/story/money/business/2016/09/07/hanjin-shipping-seeks-us-bankruptcy-protection/89948440/
>S. Korean shipper's bankruptcy crisis could affect U.S. holiday sales
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>U.S. Bankruptcy Judge John Sherwood on Tuesday ordered a hearing for Friday for the world's seventh largest ocean shipper. Hanjin filed for bankruptcy in South Korea last week and is seeking similar protections in dozens of countries globally to prevent seizures of ships and cargo.

>With its assets frozen Hanjin, which handles about 8% of all U.S. cargo, is faced with its ships not being allowed to unload or take on cargo, as dock workers and tugboat pilots are concerned about not being paid.

>The crisis for the shipper is creating "a ripple effect" that could impact retailers' shelves come the crucial holiday shopping season. "U.S. bound cargo is already being delayed at origin ports and Hanjin ships loaded with cargo idle unable to enter U.S. ports, containers are being detained on arrival clogging already congested ports and preventing merchandise from reaching store shelves," Retail Industry Leaders Association President Sandra Kennedy said in a letter last week to Commerce Secretary Penny Pritzker and Federal Maritime Commission Chairman.

http://www.chicagotribune.com/news/sns-wp-blm-hanjin-392fd65a-74f0-11e6-9781-49e591781754-20160907-story.html
>Hanjin's ghost ships seek havens as food, water dwindling

>http://www.nytimes.com/aponline/2016/09/06/world/asia/ap-as-skorea-shipper-bankruptcy.html
>Hanjin Pledges $90 Million to Resolve Shipping Cargo Chaos