S.Korea urges swift offloading of Hanjin cargo, to unveil new shipping measures
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Giant cranes are seen at the Hanjin Shipping container terminal at Incheon New Port in Incheon, South Korea, September 7, 2016. REUTERS/Kim Hong-Ji/File Photo
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
SEOUL (Reuters) - South Korea will announce new measures to bolster the shipping industry in October, finance minister Yoo Il-ho said on Friday, urging the swift unloading of cargo trapped on Hanjin Shipping Co Ltd's <117030.KS> ships.
Around 90 percent of Hanjin's container ships are expected to finish offloading cargo by the end of October, with vessels in close vicinity of Korea returning to ports here, Yoo said during a visit to a port in Busan to assess the Hanjin situation.
"The government will provide help through related ministries and offshore offices while it will also ask the court to help allow Hanjin to use the funds necessary for cargo offloading and to pay offloading fees for ships returning to Korea as a priority," Yoo said.
Some 35 vessels have offloaded cargo as of today, out of a total of 97 Hanjin owned and leased container ships, he added.
(Reporting by Christine Kim and Cynthia Kim; Editing by Lincoln Feast)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Greek PM, France's Hollande discuss Greek bailout review, Cyprus
- Egypt's top constitutional court upholds law restricting street protests
- Relatives of missing Flight MH370 passengers 'taking search into own hands'
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!