Shipping giant Hanjin filed for receivership in South Korea and filed for bankruptcy in the United States last week after its finances collapsed. This week news is emerging that Hanjin is trying to file for bankruptcy protection in 40 different jurisdictions as they desperately work to prevent any more of their ships from being seized in port. Hanjin operated the world's seventh largest container line at a loss in four of the last five years. The number of Hanjin ships which have been denied access to ports stands at 79. Hanjin claims a fleet of 141 ships, of which 128 are operating. Spot shipping prices on routes conveying cargo from Asia to North America have been holding ~40% higher than they were immediately before Hanjin's initial bankruptcy filing. The firm's current crisis follows the recent refusal of creditors to lend Hanjin any more capital to finance its operating expenses. Sorry for your loss.