Containers of the South Korean shipping firm Hanjin. (Photo: Daryl Mitchell /CC BY-SA 2.0)
Hanjin’s crisis raises concerns among seafood exporters
(INDIA, 9/13/2016)
Several Indian seafood exporters have expressed concern about the fate of their cargo given the collapse of South Korean container shipper Hanjin.
With its assets frozen after the shipper’s s banks decided to end financial support, the firm’s ships were refused permission to offload or take aboard containers because there were no guarantees that tugboat pilots or stevedores would be paid.
The shipping line bankruptcy has caused turmoil in the global sea freight with giant container ships marooned and merchants worrying whether hundreds of tonnes of goods being carried by the South Korean company will reach shelves.
Several marine products exporters who have begun shipping consignments for the Christmas-New Year shopping season are now struggling to retrieve the stuck cargo.
One of these cases is that of Norbert Karikkasserry, a partner of the seafood exporting firm Interseas, who in statements to Business Standard pointed out: "My container of vannamei shrimps bound for Vietnam is stuck at Port Klang in Malaysia. I have to destuff the cargo and stuff it in a fresh container, all at my expense, to move it to the destination."
Other exporters claim that some Indian seafood containers have been detained at Colombo port and ensured that even before Hanjin's collapse they were not satisfied with its services.
Meanwhile, there are also those who stress they have not had their shipments stopped because they stopped operating with Hanjin a long time ago as they were not satisfied about its services.
The crisis has hit seafood exports from India at a time when the sector is struggling with decline in catches and recessionary trends overseas.
Indian fishing sector representatives stressed that Southeast Asia, the second largest market for Indian seafood, has recovered from the diseases that hit the aquaculture farms, leading to lower purchase from India.
Indian exports INR 300 billion (USD 4.47 billion) worth marine products annually, with the US, South East Asia and Europe being the three largest buyers. The peak season for export is August to November.
Related article:
- Hanjin’s bankruptcy leads to global freight chaos
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