A Hanjin vessel remains stranded at the port of Long Beach.[AP/Yonhap News Photo]
A cargo crisis caused by Hanjin Shipping's filing for bankruptcy protection showed signs of easing with one container carrier allowed to unload cargo at the US port of Long Beach, a top economic official said Wednesday.
Finance Minister Yoo Il-ho told a meeting of economic officials that more than 20 alternative vessels would sail soon this week to help Hanjin vessels stranded at ports in Asia, Europe, and the United States.
Dozens of ships have been barred from leaving and entering ports around the world, causing havoc in sea cargo traffic, since the country's largest container carrier was placed under court receivership last week. Some vessels have been seized.
Yoo said a Hanjin ship could gain access to the terminal in Long Beach this week while the crisis showed signs of easing at ports abroad.
Complaints are growing, however, among South Korean consignors who slammed the government for dragging its feet, calling for swifter and stronger steps to ease a cargo crisis.
Financial losses caused by delayed shipments of goods for exports and imports were estimated at 70 million US dollars, according to the Korea International Trade Association.
Hanjin's 128 ships in service are carrying cargo worth 16 trillion won. The association said more than 100 vessels are in trouble as ports and terminals around the world refused to move cargo on concerns about Hanjin's ability to pay bills.
Aju News Lim Chang-won = cwlim34@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
