Hanjin cargo containers at the Port of Long Beach in California in September. Photo: Bloomberg NewsStacks of sky-blue shipping containers, one of the last assets of bankrupt Hanjin Shipping Co., litter ports on both coasts. Earlier this month, a Seoul court declared Hanjin bankrupt and ordered the firm’s liquidation, bringing about the final chapter of the ocean-shipping industry’s largest-ever collapse. All that remains of Hanjin will be liquidated, including ships, stakes in seaport terminals and other assets such as its containers. Freight and logistics firms in Southern California have been working since last fall to remove thousands of Hanjin containers from the wheeled trailers, known as chassis, used to haul them off the docks.

Source: Wall Street Journal February 23, 2017 22:02 UTC