The chairman of South Korea's Hanjin group Cho Yang-ho has transferred some AU$47 Million to its troubled international shipping subsidiary Hanjin Lines.  But it's not clear if the move is solving the shipper's problem with freighters unable or unwilling to dock and unload their cargo.

Off Melbourne, Lloyd's List Australia reports that the Hanjin Milano has yet to berth at East Swanson Dock - apparently on the advice of the South Korean government which wants to avoid a repeat of the fate of the Hanjin California at Port Botany in Sydney, which was placed under arrest as Hanjin's creditors demand overdue payments.  The Hanjin Rome was detained in Singapore last week immediately after the South Korean line entered court protection.  At least three more Hanjin ships are arrested, including the Hanjin Baltimore at Panama because the Panama Canal "impassable" to the line.  So is the Suez Canal.

Two Hanjin ships have had better luck in California: Truckers began moving freight from the Hanjin Greece at Long Beach, and the Hanjin Boston received orders to unload at the Port of Los Angeles on Tuesday morning.  But these ships represent a fraction of the US$14 Billion in cargo trapped at sea by Hanjin's bankruptcy.  Ships are stalled everywhere:  In the North Sea and the Mediterranean; off China, Japan, and South Korea; and off Southeast Asia.  Some of these have run out of fuel and are low on supplies.

In addition to the cash infusion from the chairman, Hanjin's largest shareholder Korean Air is coming up with another AU$76 Million.  But it's on the condition that Hanjin puts up its stake in a terminal at Port of Long Beach as collateral.