The Hanjin Shipping bankruptcy

Hanjin Shipping, once one of the world's largest container shipping companies, filed for bankruptcy in 2016 due to financial difficulties caused by rising fuel costs, overcapacity, and fierce competition. Its debts made it hard to operate profitably, and lenders hesitated to provide more funding. As a result, ships were stranded, and logistics were disrupted globally. The bankruptcy led to delayed shipments and concerns over the stability of the shipping industry, highlighting how financial mismanagement and market pressures can push even major companies to failure.