For some global shippers, the bankruptcy of South Korea's Hanjin was both a fillip and a sharp reminder of just how much clean-up was needed in their businesses.
Maersk, the world's largest shipping company, which shares customers with Hanjin, told CNBC on Monday how it dealt with the multi-billion dollar crisis.
"Right after the bankruptcy was announced, the phone started ringing and people asked us for help. They (customers) had cargo on the water and didn't want to miss the seasons in the U.S. and Europe so we helped them," Asia Pacific CEO Robbert van Trooijen told "Squawk Box." "But gloating is not the right term here."
An estimated $14 billion worth of cargo was stranded at sea after Hanjin Shipping, the world's seventh-biggest container line, filed for court receivership on August 31, shocking the logistics industry. The company's Asia-U.S. route is on for sale as part of insolvency proceedings, with the bidding deadline extended on Monday to November 10, according to a Dow Jones report.
Following the company's receivership, clients such as LG Electronics canceled orders with Hanjin and sought emergency alternatives to ship their freight, Reuters reported at the time.