Hanjin Shipping Co. of South Korea filed for bankruptcy last week, leaving dozens of ships carrying more than half a million cargo containers stranded at sea. The ships are being denied access to ports around the world due to uncertainty about who will pay docking fees, container-storage and unloading bills. Samsung Electronics Co. has cargo valued at about $38 million stranded on Hanjin ships in international waters.
This is a great example of an enterprise risk.
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