Thursday , 19 September 2019
Latest News
Hanjin Shipping is preparing to implement a rate recovery programme for the Trans-Atlantic trade. The programme, consisting of three quarterly rate restorations, will be applied to all shipments between North America, Northern Europe and the Mediterranean, both east and west bound, based on the following schedule:

Hanjin’s rate recovery programme

April 1, 2010 – 20-foot/US$300, 40-foot/US$400 (all types)

July 1, 2010 – 20-foot/US$300, 40-foot/US$400 (all types))

October 1, 2010 – 20-foot/US$300, 40-foot/US$400 (all types)

The company says the Trans-Atlantic trade was hard hit in 2009 by a massive decline in cargo volume that drove freight rates to unreasonably low levels. Despite signs of recovery in the form of improving volume figures, it finds that “fuel and other operation costs are increasing as well.”

Hanjin management believes that the rate recovery programme “is necessary for us as we must maintain the quality service and schedule reliability that our customers expect from us.”