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.