Korean shipping and health care

September 07, 2016
by Philip F. Jacobus, CEO
You are probably thinking, what does Korean shipping have to do with health care?

Before I took a cut in salary to become a magazine publisher, I sold medical equipment and I used to say that 90 percent of the problems I ever had had to do with shipping.

Hanjin Shipping filed for bankruptcy in something like 40 countries around the world. That means there are 140 vessels with containers on board that are moored off shore because terminals will not let them discharge for fear they will not be paid.

Forgetting about the obvious delay that your medical products or equipment could experience if it is coming from Asia and western Europe and booked on Hanjin, it is important to know that the various container companies have arrangements to ship each other's containers.

You might have booked with Maersk and without you knowing, the cargo could have been placed on a Hanjin vessel.

Hanjin is not the largest container line in the world. In fact, it is number seven but without a doubt, all this is going to drive the price of shipping up, if for no other reason than supply and demand, which means that for medical products manufactured outside your own country, things are going to end up costing you more.

Is it not interesting how interconnected we all are nowadays?