This file photograph taken on April 12, 2013 shows one of South Korean Hanjin shipping vessel (R) entering the port in Singapore. / AFP / ROSLAN RAHMAN
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South Korea's flagship Hanjin Shipping company said Friday about one third of its cargo fleet -- some forty ships -- is marooned at sea or has been seized at ports, as international shipping staggers after its biggest ever bankruptcy filing.On Wednesday, Hanjin Shipping, the world's seventh-largest shipping company filed for court protection after its creditors, led by the state-run Korea Development Bank (KDB), rejected its self-rescue scheme. Effected are ships not owned by Hanjin but contracted by it or those belonging to its alliance members, along with cargo and containers on board those vessels.10 Hanjin vessels were either seized or denied access at Chinese terminals in Shanghai and Tianjin over the past 48 hours, according to local media reports, with another vessel seized in Singapore earlier the week.Hanjin officially entered court receivership Friday, the Seoul Central District Court announced.
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