Hanjin Shipping to Increase Rates

Hanjin Shipping is increasing freight rates in its Asia-Mediterranean/North Europe trades beginning June 1.

As of June 1, the rate for all types of freight, including dry, reefer and special, west bound to major ports in the Far East/China/South East Asia-Mediterranean trade will increase by $250 per TEU and $500 per FEU, Hanjin said.

As of July 1, rates will increase $200 per TEU and $400 per FEU for all types of freight west bound to major ports in India, Pakistan, Bangladesh and Ceylon. West bound freight for ports in the Far East, China and South East Asia will go up another $300 per TEU and $600 per FEU, Hanjin said.

Hanjin Shipping, South Korea’s largest shipping carrier, operates approximately 60 liner and tramper services around the globe transporting over 100 million tons of cargo annually. Its fleet consists of some 200 containerships, bulk and LNG carriers.

Contact Thomas L. Gallagher at tgallagher@joc.com.