Hanjin Shipping Creditors List Released, 10 Bunker Companies Owed $64 Million

by Ship & Bunker News Team
Thursday October 13, 2016

The list of creditors of bankrupt Hanjin Shipping has been released, and it shows ten bunker companies are collectively owed around $64 million.

The document, which details over 3,000 creditors in total and has been seen by Ship & Bunker, includes the following ten claims for over $500,000 each from marine fuel companies:

  • World Fuel Services - KRW 24,461,629,837 ($21,728,413)
  • Chemoil International Pte Ltd - KRW 10,331,895,649 ($9,177,463)
  • Glencore Singapore - KRW 9,953,773,982 ($8,841,590)
  • Total Marine Fuels Private Limited - KRW 9,486,668,829 ($8,426,677)
  • Ocean Connect Marine Pte Ltd - KRW 8,270,892,048 ($7,346,745)
  • Singamas Petroleum Trading Pte. Ltd. - KRW 5,102,785,669 ($4,532,627)
  • Minerva Bunkers Pte Ltd - KRW 1,574,103,937 ($1,398,222)
  • KPI Bridge Oil Singapore Pte Ltd - KRW 1,365,814,461 ($1,213,205)
  • Cockett Marine Oil (Aisa) Pte Ltd - KRW 1,049,831,403 ($932,529)
  • IBT Bunkering & Trading Mineralölvertrieb GmbH & Co. KG - KRW 578,843,449 ($514,166)

Hanjin's top five creditors overall are Seaspan Corporation - owed KRW 47,112,649,571 ($41,848,524), Danaos Corporation - owed KRW 40,642,777,941 ($36,101,562), Peter Doehle - owed KRW 39,434,031,470 ($35,027,875), World Fuel Services, and Burlington Northern Santa Fe Railroad - owed KRW 16,333,189,119 ($14,508,202).

South Korea's Hanjin Shipping, once the world's seventh largest box carrier, filed for court protection on August 31, 2016.

Despite the apparent bankruptcy protection, World Fuel Services Friday was able to arrest a Hanjin box ship in Korea after arguing the vessel was only beneficially owned by the shipper.

Read More: Hanjin, OW and Preparing for the Next Unthinkable Sinking 

$1 = KRW 1,125.79

Ship & Bunker News Team
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