Three Hanjin Ships Stranded Off California Coast

Tyler Durden's picture

Earlier today we reported that in an surprising and abrupt development, one which may lead to ripple effects on global supply-chains and worldwide "just-in-time" logistics, the biggest South Korean shipping company and the world's 7th largest container shipper, Hanjin Shipping, filed for bankruptcy leaving its assets frozen as ports from China to Spain denied access to its vessels.

 

It did not take long for the fallout from this historic bankruptcy - the largest ever for a container shipper in terms of capacity -  to reach the US, because as Bloomberg reported moments ago, at least three Hanjin ships are currently stranded off the California coast.

  • STRANDED SHIPS INBOUND FROM KOREA, CHINA, JAPAN: OFFICIAL
  • THREE HANJIN CONTAINER SHIPS STRANDED OFF CALIFORNIA COAST
  • MARINE EXCHANGE OF S. CALIFORNIA OFFICIAL COMMENTS ON SHIPS

While we await details on just how this asset "freeze" will be resolved, we wonder what is the cargo on these ships, where it was meant to be delivered to, and just how much US production will be bottlenecked as a result of missing key supply-chain components. And then, we extrapolate that to the dozens of Hanjin ships around the globe.

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symtex411's picture

I'm sure it's nothing.... </sarc>

TrajanOptimus's picture

It's just a bunch of useless Wall Mart garbage. Nothing to see here folks.

knukles's picture

OK.  Denied berthing rights as company can't pay for it?
Food and water run short.
Crew buys own from supply ship
Or just abandons ship and hello California!
Welfare free as a butterfly life forever.

Not to mention that the ships are filled to the gunwales with illegal aliens of dubious good will toward America.

flaminratzazz's picture

anyone with half a brain would set up a flea market and plant 25 acres of asparagus

jeff montanye's picture

or pot.  

different subject: i could be wrong but i think the thread on the dhs taking over the election is being attacked now. see below.

 

http://www.zerohedge.com/news/2016-08-31/obama-planning-seize-control-st...

 

particularly note the audio snippets.

flaminratzazz's picture

page is dead..seems to be pulled

espirit's picture

I was having problems posting earlier.

Seems TPTB are having indigestion.

Twee Surgeon's picture

Surely events like these are covered in insurance policies ? Company Ships Bankrupt at sea are not a new thing.

whatamaroon's picture

They were full of hillery bobbleheads, so a big loss

Infocat's picture

Hopefully Wal Mart goes broke in the next financial crisis as well. http://www.truthjustice.net

Refuse-Resist's picture

I bet they'd make great artificial reefs. Or possibly we could use them for repatriation when we finally get sick of all their bullshit.

Amalgamated Tang's picture

I call "dibs" on the entire lot. 

I'm renaming the ships the SS Amalgamated Tang I, II, and III.

I will use there massive capacity to ship FED bullshit out to sea and dump it, for a fee in gold.

espirit's picture

I'll put up an ounce of Au.

Crowdfunding works wonders.

A Nanny Moose's picture

Would make for one helluva boating accident.

SHEEPFUKKER's picture

Assets frozen? This doesn't square with the global warmists.  //

G-R-U-N-T's picture

You would be surprised on how few supply lines or lines of credit fail before food disappears off shelves!

Stormtrooper's picture

That won't be a problem.  My Kibbles are made here in the US.  Both I and my dog thank God for that.

Crash Overide's picture

Walmart lays off 8,000 and Hanjin goes belly up, but this doesn't fit with the official Obama narrative of strong economy.

PlayMoney's picture

Apparently Hanjin didn't donate to the Clinton foundation.

Refuse-Resist's picture

BOOM!

It wouldn't be too much of a stretch to believe Hanjin execs were lining up some loans for that very purpose.

 

flaminratzazz's picture

wheels are creaking and groaning on this old wore out train wreck.

espirit's picture

How much percentage difference between 'wore' and 'whore' ?

Train wreck is a different story,

flaminratzazz's picture

agreed, that old whore of a train wreck is not looking very well either is she?

wisehiney's picture

Tylers, be sure to hang on to our WB7.

We cannot do without him.

Especially on the verge of our attack.

You know in your heart that you will never regret it.

Whatever it takes. Pick up our slack for a while.

Please and thanks.

Baby Eating Dingo22's picture

Send them back

They have nothing we need

localsavage's picture

But we can't live the 100 percent pollution free fantasy if we actually make stuff.  It is easier fool us when it is on the other side of the globe with a complete media blackout.

stacking12321's picture

"Send them back

They have nothing we need"

 

...says babyeatingdingo while typing on a chinese-made ipad
buzzkillb's picture

While most of us stare at Korean made panels.....

spartina's picture

Except for auto parts, tools, clothing etc. etc........

Refuse-Resist's picture

I agree. Some folks have apparently lost the abililty to differentiate between wants and needs.

holdbuysell's picture

Even if not today, the always-in-motion inventory paradigm will severely bite the world eventually.

espirit's picture

Fuck it.

I can't even dump my 2007 Silverado because it has an irreplaceable Takata airbag on the passenger side.

Thinking of taking the Explosive Ammonium Nitrate Inflator out myself and ...

RogerMud's picture

'just in time' becomes 'just not here'

espirit's picture

That's Good.

Come back on a regular basis.

whatamaroon's picture

Man that Trump is good, already he is bringing jobs back to 'Merica

Yen Cross's picture

    lol.  BTFATH

 

     Better yet, buy the reconstituted crab meat.

stinkypinky's picture

Fish sauce just tastes better with age

flaminratzazz's picture

in a  jar set in the sunny side of the window

knukles's picture

You guys, that's just wrong.

The Fonz...before shark jump's picture

What does maritime law say about this?

Finders keepers?

knukles's picture

All they did was declare bankruptcy

So let's go steal 'em blind and create a new international incident.
You know, like piss off Korea, they say something insulting about Hillary's health, Administration gets mad and has a KimChee Spring resulting in Korea and all Koreans, North and South Hand in Hand, pledging fealty to the Islamic Caliphate.
And you thought we could get through January now, didn'tcha?

Implied Violins's picture

I like my Kim Chee with sea salt.

bamawatson's picture

then you can keep your Kim Chee with sea salt

b hussein homobama