Hanjin Group's flagship company Korea Air Lines Co. failed to make a decision on providing rescue fund worth 60 billion won ($54.7 million) to help out Hanjin Shipping Co. after its cargo operation was havocked following its file for court receivership last week.

Troubled South Korean firm Hanjin Shipping has been granted temporary bankruptcy protection in the U.S.

Basil Karatzas of the New York-based Karatzas Marine Advisors says Hanjin is reluctant to dock its ships in some of the world's ports, fearing they will be seized by creditors.

The company, meanwhile, has started providing food, water and daily necessities to crews on six Hanjin ships anchored at ports including Rotterdam and Singapore.

Hanjin Shipping, like Samsung a South Korean firm, collapsed last week.

Some Hanjin vessels have not be allowed to dock due to uncertainty about the company's finances. As many as 85 Hanjin ships are stranded around 50 ports in 26 countries, according to the company. The Financial Services Commission said Hanjin, the country's largest ocean container shipper, will seek bankruptcy protection in 43 countries, including Canada, Germany and Britain.

The same day Hanjin Group said it would provide a cash infusion to allow Hanjin Shipping's vessels around the world to pay docking fees and unload their cargo, a USA bankruptcy judge also helped clear the way by granting the company temporary protection from its creditors. On Tuesday this week, Hanjin said it would spend $90 million, including $36 million from the personal assets of its chairman, Cho Yang-ho to resolve the issue of the cargo offloading.

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Companies, particularly those relying directly on Hanjin to move their goods, may see some pressure on their gross margins as shipping prices between Asia and the USA rose as much as 40-50 per cent in the wake of the bankruptcy protection filing, Citigroup noted.

Reuters points out that Hanjin is the worlds seventh-largest container shipper, making this the worldwide shipping industrys biggest bankruptcy ever in terms of capacity. Sherwood said he would sign the order later on Friday.

The four USA -bound ships are the Hanjin Boston, Hanjin Greece, Hanjin Jungil and Hanjin Gdynia.

South Korea's Ministry of Oceans and Fisheries estimates Hanjin Shipping needs more than 600 billion won to cover unpaid costs like fuel, including about 100 billion won immediately for payments such as to port operators to unload cargo from stranded ships, Kim said in the statement.

The shipping company has posted net losses every year since 2011.

"I'm aware that some exporters are going through considerable difficulties from the Hanjin Shipping incident", Bank of Korea Governor Lee Ju-yeol said at a press conference in Seoul on Friday. This includes almost $37 million from the company's chairman Cho Yang-Ho.

Hanjin's shares jumped 20 percent on Tuesday on hopes for government help for the company, after falling 13.7 percent on Monday. Additionally, large customers who use Hanjin to ship goods may have to turn around and use other transportation methods.