As an advisory to our international customer base, we would like to alert you of yesterday’s news regarding Hanjin Shipping and their high potential of falling into bankruptcy. As the #9 ocean carrier in the world, the impact of the immediate reduction of capacity (globally) is expected to open the door for the steamship line industry to increase shipping rates substantially in a very short period of time.
Specifically related to the largest trade lane of our USA importing customer base, there are additional factors already underway that strengthen the carriers ability to successfully implement higher than normal rate adjustments:
Regarding current Hanjin bookings & shipments in route, we urge you to contact your freight forwarders for updates. News is already present whereby Hanjin vessels are being turned away from port entry and containers already loaded are subject to potential long delays.
We welcome your questions and will do what we can to keep you updated regarding the situation.