New York-listed shipowners could face “significant headwinds” after the South Korean ship operator Hanjin Shipping filed for court receivership today, a Wells Fargo analyst said Wednesday.
Michael Webber, who covers shipping stocks for the bank, said it may be “a bit premature” to rush to dismiss risks that the development brings for companies whose vessels have charters to the company.
Seaspan, Navios Maritime Partners and Danaos all have containerships on charter to Hanjin, and the company’s descent into the Seoul insolvency court comes before the companies could strike deals on charter rate reductions.
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