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News ID: 68972 |
Publish Date: 10:24 - 21 September 2016

Hanjin’s Rivals to Benefit from Higher Freight Rates

The disruption to cargo services made by South Korea-based Hanjin Shipping has pushed up spot freight rates temporarily creating better conditions for other container shipping companies which stepped in to plug the gap.

src="/files/fa/news/es/Thumbnails/8f1f4c75-67c3-4f1c-b8e9-90dd2d4eaa83_260_199.jpg' class='img_convert' title='Hanjin’s Rivals to Benefit from Higher Freight Rates' alt='Hanjin’s Rivals to Benefit from Higher Freight Rates'>According to MANA, A“Hanjin’s woes are occurring at a time traditionally considered the busiest time of the year for the industry. Among those who stand to benefit from higher rates in the short term are Maersk Line, Hapag-Lloyd and CMA CGM,” Maria Maslovsky, a VP-Senior Analyst at Moody’s, said.
Rates increased by 42% per forty-foot equivalent unit (FFE) on the Shanghai-Los Angeles route, 19% on the Shanghai-New York route and by 39% on the Shanghai-Rotterdam route following the Hanjin’s receivership filing, according to Drewry. The increases follow consistent declines in freight rates in 2016.
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