{"id":13503,"date":"2016-10-13T07:57:51","date_gmt":"2016-10-13T07:57:51","guid":{"rendered":"http:\/\/www.biphoo.com\/bipnews\/?p=13503"},"modified":"2016-10-13T07:57:51","modified_gmt":"2016-10-13T07:57:51","slug":"hanjin-shares-jump-25-as-us-assets-go-on-sale","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/hanjin-shares-jump-25-as-us-assets-go-on-sale.html","title":{"rendered":"Hanjin shares jump 25% as US assets go on sale"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><span style=\"font-size: 18pt;\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif;\">Hanjin shares jump 25% as US assets go on sale<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif; font-size: 14pt;\">Hanjin shares jump 25% as US assets go on sale:- Shares in Hanjin Shipping have surged on the news that the process to sell its US assets will begin on Friday.<\/span><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif;\">Hanjin&#8217;s shares jumped as much as 25% following the announcement, which was made by the court overseeing the company&#8217;s receivership process.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif;\">The company applied for receivership in August after creditors had pulled their support for the heavily indebted firm.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif;\">Hanjin Shipping is 6tn won ($5.4bn, \u00a34.1bn) in debt and the asset sale will be used to pay back creditors.<\/span><br \/>\n<span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif;\">According to the Reuters news agency, the spokesman for the Seoul Central District Court said the deadline for binding bids was expected to be 7 November.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif;\">Ships and operations<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif;\">Aside from several container ships, the sale will also include the company&#8217;s subsidiaries handling the Asia-US cargo operations.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif;\">Hanjin&#8217;s bankruptcy is the largest to hit the shipping industry.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif;\">The company has since been granted legal protection preventing its ships from seizure in various ports including South Korea, the United States and Japan.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif;\">Before the bankruptcy, Hanjin was the world&#8217;s seventh-largest container line and had been unprofitable for four of the past five years.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: Arial, Helvetica, sans-serif;\">The global economic downturn in recent years has affected profits across the cargo shipping industry.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 8pt;\">Source:-http:\/\/www.bbc.com\/news\/business-37640510<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/hanjin-shares-jump-25-as-us-assets-go-on-sale.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Hanjin shares jump 25% as US assets go on sale Hanjin shares jump 25% as US assets go on sale:- Shares in Hanjin Shipping have surged on the news that the process to sell its US assets will begin on Friday. Hanjin&#8217;s shares jumped as much as 25% following the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13504,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[8347],"class_list":["post-13503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-hanjin-shares-jump-25-as-us-assets-go-on-sale"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/13503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=13503"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/13503\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/13504"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=13503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=13503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=13503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}