Hanjin Shipping hikes Asia-Europe rate US$200/TEU December 14

KOREA`s Hanjin Shipping is increasing rates on all cargo starting December 14 from Asia (Far East, south east Asia and the Indian subcontinent) to north Europe and the Mediterranean US$200 per TEU and $400 per FEU, and from the Middle East to north Europe and Mediterranean it will levy an increase of $150 per TEU and $300 per FEU.
"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," said a Hanjin statement accompanying the announcement.
Hanjin joins Maersk, Evergreen and MSC in raising Asia-Europe rates. Newark`s Journal of Commerce reports that increases posted earlier by other carriers in this trade have been sticking, according to industry observers.