SEOUL, Sept 17 (Reuters)– South Korea’s Hanjin Shipping Co Ltd, whose collapse has actually interfered with international profession, is taking into consideration a restructuring strategy to market majority its ships, the Wall Street Journal reported on Friday, pointing out individuals acquainted with the issue.

However, liquidation stayed one of the most likely end result for Hanjin Shipping, the paper pointed out the resources as claiming.

Hanjin Shipping, the globe’s seventh-largest container service provider, applied for receivership late last month in a South Korean court and also need to send a recovery strategy in December.

The firm is working with numerous circumstances and also concentrating on one under which Hanjin would certainly preserve as much as 15 of its 37 ships and also return nearly all of its 61 legal ships to their proprietors, leaving a much smaller sized service provider, the Wall Street Journal stated.

A Hanjin Shipping spokesperson decreased to comment to Reuters on any kind of restructuring circumstances, including that a court judgment on its strategy was months away.

With financial obligation of concerning 6 trillion won ($ 5.33 billion) at the end of June and also the South Korean federal government’s hesitation to install a rescue, assumptions are reduced that Hanjin Shipping will certainly have the ability to make it through. ($ 1 = 1,125.0500 won) (Reporting by Joyce Lee; Writing by Tony Munroe; Editing by Robert Birsel)

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