The ships of Hanjin six months after it went bankrupt


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Real news: Six months ago the shipping company Hanjin went bankrupt, stranding its 96 container ships worldwide. This article takes a detailed look not only on what happened to those ships since, but also at the state of the entire shipping industry.

There was a time when Hanjin’s collapse in August and this follow-up story would have been major news stories, covered by all the leading mainstream press outlets. No more. Even though it indicates significant financial and economic trends that should concern anyone who is serious about being an educated citizen, the press doesn’t cover it, and the public today really doesn’t care.

Just another indicator that a new dark age is looming.

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6 comments

  • ken anthony

    This is what is supposed to happen. It sounds like a success story to me.

    Too big to fail is the error.

  • LocalFluff

    I don’t understand what is significant with the article. A company went bankrupt and its assets are partially taken over by others, partially idle. And shipping is the Wild West, very high risk business on the margin, there’s no trending there.

  • Michael Miller

    .

    If you wanna see the state of the shipping industry, seek out this view.

    Go to Google Maps. Zoom in on the City of Singapore. Very closely examine the area along the coast east of the city and see all the idle container ships and tankers rusting from non use. Miles of them. Following the shiney oil slicks.

    Many old and inefficient ships, true but a valid indicator of the situation.

    .

  • Steve Earle

    Michael Miller:

    Wow, that’s a lot of ships. Hope they don’t have a big storm hit anytime soon, they’ll have a real mess on their hands….

  • D.K. Williams

    Lack of imagination. Use them to sell excess California water to the Saudis.

  • Edward

    Michael Miller,
    This reminds me of San Francisco during the gold rush:
    http://www.sfgate.com/news/article/SHIPS-UNDER-SAN-FRANCISCO-There-was-a-Gold-Rush-3774242.php

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