Ocean freight containers are reportedly sitting unattended at ports in the U.S. and Europe as one of the world's major freight forwarders, Hanjin Shipping of South Korea, has filed for insolvency. Hanjin has also filed for bankruptcy protection from creditors in a U.S. The company has liabilities equivalent to $6.0 billion against assets of $5.5 billion, and $2.9 billion in debt is maturing within one year. The Korea Development Bank has been asked to provide interim financing. The shipper's parent company, Hanjin Group, has pledged $92 million to help resolve the transport disruptions that have been caused by the bankruptcy proceedings.

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