Hanjin now a symbol of shipping industry slump
It still needs 1.3 trillion won to roll over debt following losses in four of last five years
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Singapore
AS lenders halt all support to Hanjin Shipping Co this week, the South Korean container mover is emerging as a symbol of the slump that has plagued the industry since the global financial crisis.
The board of South Korea's largest container-shipping company on Wednesday voted to file for court receivership after lenders rejected a restructuring proposal saying it was insufficient to tide over a cash shortage.
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