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S2.E31 - A cautionary tale of Hanjin Shipping
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Topic of the Week (10/20/23):
Do you remember the company Hanjin? It was an ocean carrier that filed for bankruptcy in 2016. I thought today might be a good time to revisit the cautionary tale of the Hanjin bankruptcy. There are some parallels I’m noticing between the industry now and that of the early/mid 2010s. It just has me sitting up a little straighter and paying attention a little more closely.
JOC.com Article:
https://www.joc.com/special-topics/hanjin-shipping-bankruptcy
The Loadstar Article (interviewing FMC Chairman Daniel Maffei):
https://theloadstar.com/interview-new-power-new-responsibilities-for-daniel-maffei-chairman-of-the-fmc/
The Maritime Professorᵀᴹ presents By Land and By Sea - an attorney breaking down the week in supply chain
with Lauren Beagen (Founder of The Maritime Professorᵀᴹ and Squall Strategies)
Let's dive in...
But first, our TOP THREE STORIES OF THE WEEK!
1 - The Federal Maritime Commission's Request for Information for the Maritime Transportation Data Initiative from FMC Commissioner Carl Bentzel's office closed on October 16, 2023, but comments keep coming in! Check out the (as of this recording) 39 comments that have been received! Feel inspired? Submit your own!
Request for Information (RFI) at regulations.gov:
https://lnkd.in/ewBPMeHW
2 - The European Union through the European Commission decided not to extend the antitrust block exemption for liner shipping consortia. So the limited antitrust immunity that existed in the antitrust laws of the European Union will expire in April of 2024.
https://lnkd.in/ebp7jKVG
3 - Convoy Inc, a Seattle-based digital freight broker, filed for bankruptcy this week.
CNBC Article:
https://www.cnbc.com/2023/10/19/bezos-backed-freight-firm-convoy-shuts-down-read-ceo-memo-here.html
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** As always the guidance here is general and for educational purposes only, it should not be construed to be legal advice and there is no attorney-client privilege created by this video
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