Page 12: of Maritime Logistics Professional Magazine (Jan/Feb 2017)

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REGULATORY WATCH “

THE HANJIN BANKRUPTCY OF 2016 WAS A

COMPLETE DISASTER – STRANDING MORE

THAN $14 BILLION WORTH OF CARGO AT SEA. I URGE

SHIPPERS AND CARRIERS TO WORK WITH EACH

OTHER ON WAYS TO PROVIDE SAFEGUARDS. THIS

CAN BE ACHIEVED ANY NUMBER OF WAYS SUCH AS

INSURANCE CONTRACTS SECURED BY AN ALLIANCE,

BONDING OR OTHER FINANCIAL INSTRUMENTS. • Make arrangements directly with agents or In addition, SM Line intends to operate eight Intra-Asia ser- subcontractors of the Affected Party, vices between China, Japan, Thailand, Vietnam, India, Paki- • Take other actions to facilitate the movement or cargo stan, Indonesia and other countries. The