Hanjin Shipping increases Asia-Europe rates US$700/TEU from March 1

SOUTH KOREA`s Hanjin Shipping, also the world`s ninth largest carrier, has announced a rate restoration plan for various Asia-Europe services from March 1, saying today`s rates cannot cover operating costs.

For sailings from Asia (excluding Japan) to North Europe and Mediterranean, the rate increases will be US$700 per TEU and $1,400 per FEU from March 1.


For services between the Indian subcontinent/Mideast and North Europe/Mediterranean, the increase will be $300 per TEU and $600 per FEU from March 1. Also, services from Asia to West Africa will have a rate increase of $200 per TEU and $400 per FEU.


Starting from April 1, the carrier will raise $700 per TEU and $1,400 per FEU for services from Japan to North Europe and Mediterranean loops.


All increases are apply to dry, refrigerated and special cargo.