Moon Kwon Do News

The ill-fated Hanjin Rome, owned by the bankrupt Hanjin Shipping Company - has been sitting off the eastern coast of Singapore for more than a month. The mid-sized cargo vessel was placed under court arrest here on Aug 29 after German shipowner Rickmers filed a civil claim for money it says it is owed by Hanjin. When the Hanjin Rome arrived in Singapore on 29 August, no-one on board expected anything other than a regular port call. Little did they know that their trip was about to come to a grinding halt. According to the Straits Times, Hanjin will have to apply to the Singapore High Court for the ship to be released, but for now, it is unable to berth or leave. "There is no development on this matter, nobody tells me any good news,"  Captain Moon Kwon Do said.

Cash from top shareholder, executives should cover offload costs. South Korea's government said cash held by Hanjin Shipping Co Ltd and funds pledged by its parent group should meet the costs of unloading some $14 billion in cargo stranded on vessels operated by the troubled container line. The collapse of South Korea's biggest shipping operator late last month has plunged the shipping industry into chaos ahead of the crucial year-end holiday shopping season as dozens of vessels and their crews wait for money needed to pay for port and handling fees. The government said a 60 billion won ($54 million) loan pledged by Korean Air Lines Co…