Hanjin Shipping's impounded bulk in South Africa resumes operation

By Ko Dong-hwan

A container ship operated by cash-strapped Hanjin Shipping has been released on Friday days after being impounded in South Africa for unpaid charter fees to its owner.

The vessel resumed operation at 5 p.m. (local time) three days after it was detained in Richards Bay on the country’s east coast, according to the Korean shipper.

“We agreed with the ship owner that the normal vessel operation is the most important for interests of the both parties," Hanjin said. "We agreed to resume operation first and decide on the charter fees through additional negotiations."

Hanjin did not identify the owner of the ship with 82,000 deadweight tonnage that carries grain and minerals.

The vessel was detained while Hanjin was negotiating with tonnage providers to get rates cut on chartered ships, a crucial first step outlined by bondholders of the financially-troubled company.

Hanjin operates 95 container ships and 56 bulk carriers, 91 of them chartered by foreign owners.