Philippine port operators said on Friday the collapse of South Korean-based Hanjin Shipping will have minimal impact on their operations.
International Container Services Inc., the operator of Manila International Container Terminal Inc., and Asian Terminal Inc. that oversees South Harbor said Hanjin Shipping had little operations in the Philippines.
“Hanjin’s volumes and revenue contribution are marginal and all our accounts are up to date and settled,” Christian Gonzales, senior vice president and head of Asia Pacific Region and MICT, told the Manila Standard.
He said there were “few containers in MICT and none in Subic.”
Gonzales assured the release of those containers in MICT would not be affected by Hanjin’s troubles.
“No, because Hanjin has issued clearance that so long as all chargers paid, the importer may claim their containers so long as they return the empties to Hanjin’s designated container yard,” he added.
Gonzales also said Hanjin’s operations in Subic involved shipbuilding and this would not be affected by the shipping liner’s problems.
ATI also said Hanjin’s problem had “minor impact” on its operations.
State-run Philippine Ports Authority said there was no request from the Korean government or any of the creditors of Hanjin to hold the vessels.
The PPA said there are about 100 boxes for export pending at the South Harbor to be handled by Hanjin, but the cargo owners could transfer it to other shipping lines.
Oil and coal companies, meanwhile, siad they were not affected so far by Hanjin’s bankruptcy. Most Filipino oil and coal traders do not use Hanjin vessels to deliver their goods, company sources said.
A San Miguel Corp. official said the conglomerate was not affected by the Hanjin shipping crisis, specifically the delivery of coal to power plants. San Miguel subsidiary Petron Corp., which owns the country’s biggest oil refinery, meanwhile, is also not using Hanjin vessels.
Representatives of Aboitiz Power Corp., Phinma Energy Corp., Palm Concepcion Power Corp. and Semirara Mining and Power Corp. said they were unaffected by Hanjin’s woes.
Another oil company, Eastern Petroleum Corp., said the Hanjin crisis did not disrupt its operations, and that while some products might be affected, marine insurance could handle some of the problems.
South Korea giant Hanjin Shipping said Friday about a third of its cargo fleet”•some forty vessels”•is marooned at sea or has been seized at ports, as the industry staggers after its biggest ever bankruptcy filing.
On Wednesday, Hanjin Shipping, South Korea’s largest and the world’s seventh-largest shipping company, filed for court protection after its creditors, led by the state-run Korea Development Bank, rejected its self-rescue scheme.