name   천일그룹  tel   
date   2017-01-06 E-mail

title   Freight Rates Jump after Hanjin Collapse

The cost of transporting containers from ports now shows signs of
recovery after the fall of Hanjin Shpiping Co after a period of down
play, says a report in Business Korea.

It appears that the strategy of Maersk Line, the world’s largest
shipping group which cuts down shipping fees until its competitors
fall down and pick fruit when they are liquidated, is working.

As most shipping volumes that Hanjin Shipping lost have passed to
Maersk and Mediterranean Shipping Company (MSC), all South Korea,
which once considered itself as a global leader in the shipping
industry, can do is watch “a feast of winners” caused by the rise
in shipping charges.

Container spot costs skyrocketed once right after Hanjin Shipping
filed for court receivership. Container spot freight rates on the
world''s busiest routes from Asia to Northern Europe jump 36.6 percent
to $949 per twenty-foot equivalent units (TEU) in September. Rates
increased by 51 percent to the U.S West Coast and 45 percent to the
U.S. East Coast.

According to Shanghai Shipping Exchange (SSE) on December 21, the
Shanghai Containerized Freight Index (SCFI), a representative measure
that tracks spot rates of shipping containers,

Foreign shipping companies are highly likely to receive all the
fruits caused by the rise in spot rates.