Hanjin Shipping Hikes Asia-Europe Rates

Hanjin Shipping, joining numerous other carriers, announced a rate restoration surcharge plan for its Asia-Europe trade, effective Dec. 16.

All rates will increase by $600 per 20-foot-equivalent unit and $1,200 per 40-foot-equivalent unit.

The rates will apply to routes from the Far East and Southeast Asia to North Europe, Baltic Sea, Scandinavia, Mediterranean and North Africa.

They also will apply to routes from India, Pakistan, Bangladesh, Ceylon and the Middle East; to North Europe, Baltic Sea, Scandinavia, Mediterranean and North Africa.

The company said the increases are necessary to recover losses caused by falling freight rates. In recent days, APL,CMA CGM and OOCL have announced similar programs.