February 9, 2010
Hanjin Shipping on Friday joined Maersk Line, Evergreen, Mediterranean Shipping Co. and other major shipping lines in announcing that it will raise its eastbound freight rates on Asia-Europe trade lanes.
The increases posted earlier by other carriers on that trade have been sticking, according to industry observers.
The South Korean liner company said Friday it will post an increase of $200 on 20-foot containers and $400 on 40-foot containers for all westbound shipments from Asia (Far East, South East, Asia and the India subcontinent) to North Europe and the Mediterranean.
It will also increase rates by $150 per TEU and $300 per FEU on shipments from the Middle East to North Europe and the Mediterranean.
“Though we are trying to reduce costs by all means it is inevitable for us to restore freight rates in order to maintain the quality of service to our customers,” Hanjin said in its announcement.
It said the increases will apply to all types of equipment, including dry, reefer and special containers.
Contact Peter T. Leach at pleach@joc.com.
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