South Korea’s decision to withdraw support for its largest shipping company has sent shock waves through an ailing global industry. It also shows Seoul’s toughening stance when it comes to troubled firms. Hanjin Shipping Co.’s potential bankruptcy would be the largest container-shipping failure in history, dwarfing all previous carrier bankruptcies, says shipping consulting firm Alphaliner. Not knowing whether they would get paid, ports and handlers from South Korea to China, the U.S., Canada, Spain and elsewhere have...

Source: Wall Street Journal September 02, 2016 06:29 UTC