Hanjin Shipping announces rate restoration for Asia-Europe trades

Hanjin Shipping announced a rate restoration plan for Asia-Europe trades as of December  23rd, 2011.

Hanjin plans to increase rates on its Asia to Northern Europe and West Africa route by USD 200 per TEU and USD 400 per FEU for both dry and reefer containers.

For routes from Asia to the Mediterranean, Hanjin will add USD 175 per TEU and USD 350 per FEU. The rates, which take effect on December 23, do not cover voyages from Japan or Australia.

Hanjin Shipping commented, “As shown in our latest business performance, current rates cannot cover basic operating costs let alone hiking fuel prices. Thus, it is inevitable for us to restore rates in order to maintain service quality and schedule reliability that meet our customers’ needs.”