[Yonhap News Photo]
Hyundai Merchant Marine Co. was ordered Thursday to put in 13 extra container carriers, acting as a short man to stop the delayed delivery of South Korean goods for exports and imports following Hanjin Shipping's court receivership.
Financial Services Commission chairman Yim Jong-yong said Hyundai ships should be immediately placed on two crucial routes to the United States and Europe.
Hyundai Merchant is South Korea's second-largest container carrier which has been placed under creditor-led restructuring. Its bigger domestic rival, Hanjin Shiping, applied for court receivership Wednesday after creditors refused to extend fresh loans.
Hanjin's court receivership has disturbed cargo delivery, prompting clients to find alternatives for their shipments.
Some Hanjin vessels have been denied access to the country's biggest southern port of Busan with container lashing providers refusing to work with Hanjin's container boxes out of concerns that they would not be paid, Yonhap News said.
Hanjin Shipping accounts for about 10 percent of cargo processed in Busan. Foreign and domestic clients are also searching for alternative ships as Hanjin Shipping's vessels are feared to be seized by creditors, Yonhap said.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
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