Hanjin Shipping has announced a rate recovery program for the Trans-Atlantic trade in the year 2010. The program, consisting of three quarterly rate restorations, will be applied to all shipments between North America, Northern Europe and the Mediterranean, both east and west bound. Details are as follows:

< 2010 Trans-Atlantic Rate Recovery Program > Unit: USD

April 1st, 2010 – 20″/USD 300, 40″/USD400 (All types)

July 1st, 2010 – 20″/USD 300, 40″/USD400 (All types)

October 1st, 2010 – 20″/USD 300, 40″/USD400 (All types)

According to Hanjin Shipping, the Trans-Atlantic trade suffered severe
losses in 2009 caused by massive drop offs in cargo volume, which has
pushed freight rates to unreasonably low levels. While the trade is now
showing signs of recovery in the form of improving volume figures, fuel
and other operation costs are increasing as well.

Hanjin Shipping comments, “This rate recovery program is necessary for
us as we must maintain the quality service and schedule reliability
that our customers expect from us. We will continue to seek all
possible measures that will bring mutual benefits for us and our
customers during this time of crisis. ”

Source: Hanjin Shipping

Search to find what you want

• Hanjin Shipping plans increase fuel charge

     Hanjin Shipping is introducing a rate restoration program for the Trans-Atlantic trade effective September 1st, 2009. The amount of rate increase for all shipments between Europe and North America in both directions is USD 150 per TEU and USD 225 per FEU. Hanjin Shipping comments that despite the company’s continuous efforts to

• Hanjin Shipping holds special meeting of shareholders

     Hanjin Shipping has announced that it held a special meeting of shareholders today with regards to transforming into a holding company. At the meeting, the shareholders approved of dividing Hanjin Shipping into Hanjin Shipping Holdings, a holding company and Hanjin Shipping, an operating company, which had been agreed by the

• Hanjin sees no upturn in the container shipping by 2011

    Korean shipping giant, Hanjin Shipping, expects little rebound in the container shipping until 2011, according to a Dynamar BV report. Having already lost its subsidiary, Senator Lines, earlier this year, it seems that Hanjin expects a long, hard road ahead before any sign of recovery appears. In recent weeks we

• Hanjin Shipping introduce West Africa service with UASC

    Hanjin Shipping is pleased to announce that it is introducing West Africa Service with UASC effective March 1st, 2010. Named WAF (West Africa Service), this new service will be running between Valencia, Lagos, Cotonou, Tema and Abidjan with 2 of 1,700TEU class ships, 1 deployed by Hanjin Shipping and the

• Wan Hai Lines and Hanjin Shipping, in cooperation Transpacific trade

    Hanjin Shipping and Wan Hai Lines are pleased to announce that they will be cooperating in the Transpacific trade effective middle of March.

• Hanjin Shipping rates again in Asia – Europe trade

     Hanjin Shipping is restoring freight rates in Asia – Europe trade effective December 14th, 2009. The amount of rate restoration for all shipments from Asia (Far East, South East, and IPBC) to North Europe/Mediterranean is USD200 per TEU, USD 400 per FEU, and the Middle East to North Europe/Mediterranean is

• Hanjin Moves to reorganize and simplify data protection

    Hanjin Shipping petitioned the Federal Maritime Commission to allow it to submit a “universal notice” of its pending corporate reorganization into two separate units instead of having to submit a separate amendment for each of it 2,700 service contracts. Hanjin’s board of directors approved the division of the company into

• Hanjin Shipping is restoring freight rates in Asia…

    Hanjin Shipping is restoring freight rates in Asia – Europe trade effective December 14th, 2009. The amount of rate restoration for all shipments from Asia (Far East, South East, and IPBC) to North Europe/Mediterranean is USD200 per TEU, USD 400 per FEU, and the Middle East to North Europe/Mediterranean is

• Wan Hai, Hanjin cooperate on trans-Pacific service

    Wan Hai Lines and Hanjin Shipping will be cooperating in the Transpacific trade effective middle of March. SJX (South East Asia – Japan Express) service, launched by Hanjin Shipping last June, is a direct service between Vietnam and the US targeting the Vietnamese and South East Asian markets, which are

• Hanjin Shipping slowly introducing steam in Asia – U.S. East Coast

    Hanjin Shipping announced the launch of slow-steaming in one of its Asia – U.S. East Coast services effective middle of January. As part of the agreement settled among the CKYH (COSCON, “K”Line, Yang Ming and Hanjin Shipping) Alliance partners, Hanjin Shipping will be beginning slow-steaming in its current AWH (All

• Hanjin Shipping Expect A Change of Fortune container shipping business

    After their recently announced policy of rate restoration effective from this month on both Trans Atlantic and Trans Pacific routes Hanjin Shipping Line Chairwoman Eun Young Choi has expressed her confidence in the future of the container shipping industry during a statement made today at the launch of Hanjin Shipping

• S. KOREA S Hanjin Shipping SUFFERS LOSS IN December At falling PRICES

    Hanjin Shipping Co. (KSE:000700), South Korea’s largest shipping line, said Thursday that it suffered a loss in December on the back of lower freight rates. Hanjin logged a loss of 86.5 billion won (US$75 million) and sales of 668 billion won, the company said, without providing comparable figures.

• Hanjin, Maruba Join Trans-Atlantic Service

     South Korean carrier Hanjin and Argentina-based Maruba joined a combined service with CMA CGM, Hapag-Lloyd and Hamburg Sud between the East Coast of South America and northern Europe. The two latest carriers in the joint service hope to cut approximately 1,300 20-foot equivalent units of capacity by merging three slings

• Hanjin Shipping India Far East service includes

    Hanjin Shipping will join a service connecting India and the Far East, starting on September 22nd.   The India Far East Express 2 (IFX2) is currently co-operated by PIL, K-Line and SCI. According to Hanjin Shipping, Busan will be added to the existing port rotation following last month’s signing of the

• Hanjin to start direct Asia-Mexico service

    Hanjin Shipping will launch a new direct service between Asia and Mexico in mid-March when its China America Express Service begins calling at Manzanillo. Hanjin will deploy five ships of 5,500 20-foot equivalent units capacity on the service, which will have the following port rotation: Shanghai, Gwangyang, Busan, Long Beach,