Hanjin Shipping's Asia-US ops may go on sale on Friday
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Seoul
THE South Korean court overseeing Hanjin Shipping Co's receivership process plans to put the collapsed shipper's Asia-US operations up for sale as early as Friday, a court spokesman said on Thursday.
The sale comes as creditors line up claims less than two months after the company applied for court receivership. It is the first major shipping line to be dragged down by global industry overcapacity and comparatively low freight rates. The firm had total debt of 6.03 trillion won (S$7.36 billion) as at end-June, according to its court filing.
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