SEOUL: Hanjin Shipping shares surged as much as 28 percent in morning trade on Thursday after the board of Korean Air Lines, its biggest shareholder, approved lending 60 billion won (US$53.96 million) to the troubled container carrier. Shares of Korean Air climbed 5 percent. Korean Air’s board decided late on Wednesday to provide the funds to help offload cargo that has been stranded on Hanjin ships, using Hanjin’s accounts receivable as collateral, a spokesman for the airline said.

Source: New Strait Times September 22, 2016 00:45 UTC