The Auto Care Association has signed a joint coalition letter to Department of Commerce Secretary Penny Pritzker, detailing concerns as a result of the Hanjin Shipping bankruptcy and urging the department to continue engaging with the South Korean government to facilitate resolution.
On Aug. 31, South Korean container line Hanjin Shipping Company filed for bankruptcy protection, leaving $14 billion in cargo stranded at sea and causing widespread disruptions in the global supply chain. Dozens of ships have been denied access to ports around the world due to uncertainty of who will pay for docking fees, container storage and unloading bills.
The joint letter, led by the National Retail Federation and the Hardwood Federation, was signed by 120 organizations representing manufacturers, farmers and agribusinesses, wholesalers, retailers, importers, exporters, distributors, and transportation and logistics providers.
“The current situation has a tremendous impact on both importers and exporters of the auto care industry,” said Bill Hanvey, president and CEO, Auto Care Association, “as shippers are uncertain if Hanjin ships will be allowed to unload and if their goods will be seized by Hanjin’s creditors once they are docked.”
On Sept. 19, the Auto Care Association, in collaboration with the Motor & Equipment Manufacturers Association, co-hosted a call with Chairman Mario Cordero of the Federal Maritime Commission (FMC) to give an update to our industry on the status of the bankruptcy proceeding and U.S. government developments. The FMC has issued two advisories for companies that are affected by these recent events:
For more information, call 301-654-6664 or visit www.autocare.org.
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