Written by Susan Kohn Ross A New Year typically brings hope, optimism, and a fresh outlook. Unfortunately, when it comes to our shipping ports, the current circumstances lack anything that one could call hopeful. And, it appears things have gone from bad to worse. There are lots of reasons for the current mess. And, just as it took a long time for things to get … Continue reading Is Your Cargo Congested? Try This!
There is a lot of press coverage about the Hanjin bankruptcy, but very little of it provides tangible facts for traders to rely on. One thing we know for sure is Hanjin filed a Chapter 15 bankruptcy in the U.S. What that means is the U.S. bankruptcy court will defer to the Korean bankruptcy court regarding how the case will proceed. The U.S. court will limit its orders to cargo in the U.S. or touching the U.S. Most importantly right now, if you think you have a claim against Hanjin, you need to file that claim in the Korean bankruptcy proceeding, and you must do that between October 11 and 25, 2016. If you miss that claim deadline, you will be out of luck. There are a handful of Korean lawyers representing the interests of cargo owners and other potential claimants in Korea and they should be contacted immediately. Referrals are available.
Beside this one fact, there are a lot of pending questions. The Federal Maritime Commission is accepting consumer claims, but can only facilitate a discussion, as it has little jurisdiction in this context. It does have the bully pulpit, but seems reluctant to use it. Continue reading “Make Your Hanjin Bankruptcy Claims Now!”
On July 1, 2016, the Safety of Life at Sea (“SOLAS”) requirement for shippers to provide steamship lines with the verified gross mass (“VGM”) of each shipment takes effect internationally.
While under development at the International Maritime Organization for years, these requirements caught many in the U.S. by surprise last summer when the deadline was emphasized. Perhaps equally surprising was the response of the U.S. Coast Guard, the agency with enforcement jurisdiction. Coast Guard management has been publicly quoted as saying the SOLAS VGM requirements are not mandatory under U.S. law! Rather, they are simply one business means to achieve compliance. U.S. terminals have been weighing export containers for OSHA compliance reasons for years, but the same is not true in other countries. Continue reading “SOLAS: Saves Lives? Causes Ulcers?”