Hutchison’s terminal unit sets up team to retrieve containers after collapse of Hanjin Shipping

Hong Kong International Terminals Limited (HIT), operator of one of the city’s shipping container terminals, said it has set up a dedicated team to help retrieve containers affected by the collapse of Hanjin Shipping.

HIT said its team of 70 had retrieved 1,500 Hanjin containers since the Korean shipping firm filed for receivership at the end of August.

The terminal said on Thursday that affected companies should contact Hanjin to retrieve their containers, but it was offering assistance to assist the logistics industry at this time.

Some 60 Hanjin ships are anchored offshore around the world after the company filed for bankruptcy protection under the weight of US$5.4 billion debt.

Hanjin cutomers have US$14 billion in goods loaded on the stranded ships with the timing of the troubles coming ahead of the critical Christmas period as retailers stock up for the season.

The Korean shipping company’s 63 ships are worth around $1.76 billion.

HIT is part of Hutchison Port Holdings Limited, the port and related services division of CK Hutchison Holdings Limited.