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RESEARCH AND BRIEFINGS

Shipping Industry Vulnerable Following Hanjin Administration

 


Shipping company Hanjin recently announced it was entering administration, following financial difficulties. As part of a shipping industry that is becoming increasingly interdependent, the company’s issues are likely to have an impact on ports and terminals, crews, other shipping companies, transport companies, and beyond.

The briefing explores:

  • Those parties likely to be affected.
  • Business interruption considerations.
  • Insurance coverage issues.
  • The risks faced by buyers of goods in the present environment.

"Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by Jardine Lloyd Thompson Pty Ltd (ABN 69 009 098 864, AFSL 226 827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions.

This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh on request.