Seoul: Hanjin Shipping is attempting to raise box rates on its Asia - Europe trades from September 1st. The Korean operator says the rate "restoration" is aimed at improving "the deteriorated profitability caused by the unsustainable rates in the major trades."
Rates on the Far East/South East Asia/Europe and the Japan/Europe services are to increase by $300 per teu/$600 per feu, while Australasia/Europe will go up $150/$300.
Middle East/Europe rates will rise $100/$200. A similar programme aimed at rate restoration in the company's transatlantic trades was announced last month. A $200m operating loss in the container operation contributed to a $325m first quarter loss for the Korean major. [13/08/09]
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