Hanjin Shipping Delisted from Korean Exchange

by Ship & Bunker News Team
Tuesday March 7, 2017

The Korea Exchange (KRX) says bankrupt Hanjin Shipping Co Ltd (Hanjin) will be delisted today, MarineLink reports.

As Ship & Bunker reported last month, Hanjin was officially declared bankrupt nearly six months after filing for court protection.

Today, after seven sessions of sell-off trading, the former shipping giant will now be removed from the Korea Composite Stock Price Index (KOSPI).

Meanwhile, one of Hanjin Shipping's few remaining vessels, Hanjin Rome, was sold on March 1 by the Supreme Court of Singapore, court documents show.

The vessel is said to have had S$639,134 ($453,177) of bunker fuel on board, an amount included in the sale on top of the price paid for the vessel.

While the vessel's sale price is undisclosed, the 5,300 TEU capacity box ship is worth scrap value of $8.28 million, according to VesselsValue.