Hanjin Shipping BANKRUPT! NO NEW RETAIL ITEMS MAY B COMING~Shipping costs skyrocket - myLargescale.com > Community > Forums

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Old 09-02-2016, 07:25 AM   #1 (permalink)
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Exclamation Hanjin Shipping BANKRUPT! NO NEW RETAIL ITEMS MAY B COMING~Shipping costs skyrocket

Guys and Gals, looks like Hanjin, a shipping company is in real trouble, they're ships are being seized by creditors, railroads and other movers of what comes in on these ships are NOT being moved.

Read the full story at this link:

Hanjin Shipping bankruptcy causes turmoil in global sea freight
https://www.theguardian.com/business...al-sea-freight

This may just be the death of not only G scale, but possibly a lot of other things, especially those in the US that have orders, pre-orders, etc. coming from across the seas. This looks to be really bad and may put the US into an economic disaster, as well as the world since Hanjin is or was the worlds largest shipper.

So don't expect any new items anytime soon, because the story in the link supplied earlier, just doesn't sound too good for any of us!

Last edited by Cataptrra; 09-02-2016 at 07:44 AM. Reason: Correct spellibng of Hanjinn to Hanjin in title.
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Old 09-02-2016, 08:03 AM   #2 (permalink)
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The analysts are saying there is so much capacity out there that Hanjin closing will have little effect on overall trade. They have been facing trouble because there is too much capacity in the shipping business and not enough cargo to justify it. Therefore shipping rates have been cut past the point of making a profit.

Will have to wait and see. Most of the cargo being seized off of Hanjin ships was destined for filling the shelves for Christmas. Yeah, the Christmas sales are right around the corner.
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Old 09-02-2016, 08:57 AM   #3 (permalink)
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Quote:
Originally Posted by Ironton View Post
The analysts are saying there is so much capacity out there that Hanjin closing will have little effect on overall trade. They have been facing trouble because there is too much capacity in the shipping business and not enough cargo to justify it. Therefore shipping rates have been cut past the point of making a profit.

Will have to wait and see. Most of the cargo being seized off of Hanjin ships was destined for filling the shelves for Christmas. Yeah, the Christmas sales are right around the corner.
I never trust analysts that much anymore, they've been wrong too many times for me to trust what they say.

All we can do is wait and see, but when I've seen CSX cargo freight trains roll through my area 98% of the containers names on them were "Hanjin", so I do believe this is going to be one of the worst financial disasters in history. Worse than that very first depression that hit the world back in the 30's{memory not what it used to be on dates...LOL}.

But only time will tell that tale.

But from what and how that article reads, sure does not sound very promising to me.
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Old 09-02-2016, 09:44 AM   #4 (permalink)
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I don't expect to see anything New until their pricing structure invites new production. Now our trains have to compete with toys to get made and we don't have the bucks to get in line.
They have to be made before shipping is a concern.
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Old 09-02-2016, 12:10 PM   #5 (permalink)
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My 2 cents:

Bridgewerks products are assembled in the US, from mostly american made parts. We do source some of our components from overseas, but I do not expect that an increased transportation cost will have much of an impact on our costs or business. The Hanjin bankruptcy is an indication to me that shipping costs have dropped to an sustainable low level, and will have to rise, which will increase the costs of all foreign products.

A much bigger influence is the drop in popularity of model railroading - I am much more concerned that the hobby cannot support the local retail hobby shops any more, than I am that we can't support Hanjin Shipping.
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Old 09-02-2016, 12:22 PM   #6 (permalink)
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This will only effect product already on the water. If it's sitting on land it will eventually get shipped, via another shipping company if in China or just put on a train or truck if here.
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Old 09-02-2016, 12:36 PM   #7 (permalink)
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From my unique vantage point living near a southern main line, there are many suppliers containers..from a long list of companies..
More like a couple drops in bucket..than all the water in it..
I see few H. containers.. many..many others..

More than one way to skin a cat in life..
Our own global economy will have greater impact in the future on our desires for G toys in the back yard of our homes..

Ran at Alans yesterday afternoon..btw.. fun time!
Run a train..relax in life!

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Old 09-02-2016, 03:38 PM   #8 (permalink)
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They are the 7th largest shipper in the world. So there are 6 other LARGER shippers still in business.

I'm not losing any sleep.

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Old 09-02-2016, 04:47 PM   #9 (permalink)
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I happen to have been making a list of names I see on the side of "Intermodal Shipping Containers" (not semi trailers on flat-cars) I see on trains while watching the Roanoke, VA and Rochelle, IL webcams as well as when I am out railfanning... Hanjin is just one of the 54 different names I have listed in the last 3 weeks. Seems there are plenty of companies to fill the void.
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Old 09-03-2016, 02:45 PM   #10 (permalink)
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Unless hanjin has their fingers into multiples of those previously mentioned 54 container supply companies it will sting for awhile, especially for the frontline workers and the peoples effected by any seized in the system cargo.

Analysts and subsequently media tend to make big on negative, but small (if at all) on the positives !!!
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