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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Ms No's picture

Don't worry some banker will take them for five dollars a piece and then sell them for 20 trillion US/Zimbabwe currency to the motherland trade bureau down the road, or maybe they will melt them down to insure that there are only a hundred boats in their exclusive possession in the future. 

Iam_Silverman's picture

Had to log in to give you an up-arrow for possibly the longest run-on sentence in the entire thread.

Refuse-Resist's picture

Maybe the Clinton Foundation is going to get into shipping?

GooseShtepping Moron's picture

I hope none of my Amazon orders were on those boats.

flaminratzazz's picture

Amazon is like that ugly fat chick. Once you pop that cherry, they just wont leave you alone.

mijev's picture

A few weeks back I fucked a fat chick. I've been feeling bad ever since. Yes she had tits like watermelons but still no excuse. 

Solomonpal's picture

Point being? Haven't we all?

fxrxexexdxoxmx's picture

Not me. Tried  once with a big girl and had erectile failure. I am very visual. if it don't look good it don't taste good.

Iam_Silverman's picture

"Point being? Haven't we all?"

Had watermelon-sized tits?

TruthHunter's picture

 still no excuse

 

...Drunk isn't an excuse?  :-)

espirit's picture

If they were, shame on you.

Gonna git used to made in the USA, or starve.

MedicalQuack's picture

At the Port of Long Beach, where Hanjin owns a majority stake in Total Terminals International, operators stopped accepting delivery of Hanjin containers. A note posted on TTI’s website said it would discontinue delivery of all Hanjin import containers “until further notice.”

Add this on to the miserable situation at hand...from Long Beach Press Telegram...

http://www.presstelegram.com/business/20160831/why-big-ships-are-adrift-...


wizteknet's picture

oops free housing free hdtv nice!

Deflationist's picture

Shipfugees welcome to USA. First sell your cargoes, left over oil and live happily.

Yen Cross's picture

  now that's creative  ~~~   Shipfugees.  lol

lakecity55's picture

Bath House Barry: "What?!? My Heroin supply is held up? I need Mayhem! Fix this, Valerie!"

SmallerGovNow2's picture

no, that will come across the texas border...

lakecity55's picture

"Due to Russian Hackers and the Korean ship Impasse, I must Cancel the Elections!"
"How does that sound, Reggie?"
"Throw something else in."

FIAT CON's picture

I guess only banks are too big to fail!

I Write Code's picture

>how much US production will be bottlenecked as a result of missing key supply-chain components.

"US production", good one skippy, waddaya think this is 1974?

Wahooo's picture

What will happen to all the people holed up inside those containers waiting to enter the US?

ronaldwilsonreagan's picture

We can make those folks into pet food after we cease the ships.

Iam_Silverman's picture

"after we cease the ships."

The ships have already been "ceased".  That's why they are stranded offshore.  Maybe soon enough the creditors will seize them though.

pc_babe's picture

I suspect we will a shortage soon of pig rectum Calamari

Berspankme's picture

The cargo itself moves on letter of credit between buyer and seller. The ships must be stranded for docking fees? Interesting timing as this is beginning of peak season for year end.

freakscene's picture

I count 4 ships

 

:)

 

Drop out's picture

I wonder what's in them and if anyone has checked.