[survey results] how will hanjin's collapse affect ocean freight rates?

How Will Hanjin's Collapse Affect Ocean Freight Rates?

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Hanjin's big bump in the road has made for some interesting reading and writing for bloggers and press. As a company focused on the ups and downs of ocean freight rates, we can only but speculate what effect Hanjin's drama can have on prices.

So, naturally we went to our community to check the overall

feeling on the topic.

Expectations Of Higher Ocean Freight

Rates

We asked the social media community their thoughts on how Hanjin’s collapse will affect ocean

shipping rates.

Container Freight Pricing Transparency With One Platform In Real Time & On Demand.

50% of the respondents indicated that rates would indeed go up while 36% did not expect any change. A small percentage, 7%, expects a

decline while another 7% of respondents were not sure.

Container lines come to the rescue

As the news of Hanjin’s collapse sunk in, spot rates settled down the following week barely inching upwards for asia to us west coast and east coasts.

According to the journal of commerce, this may indicate that us importers are finding space on other carriers during peak season.

Indeed, Maersk announced that it would open a new service from asia to the us west coast to “soak up” Hanjin’s customers. Similarly, MSC announced the introduction of a new transpacific service called maple which will start on september 15.

The Long-term Effects

The question is what will happen with the rates in the longer term. In the short term, the effect is positive, but there are many factors that can influence rates in the medium and

in the long term.

- Maersk representative

50% of the respondents indicated that rates would indeed go up while 36% did not expect any change. A small percentage, 7%, expects a

decline while another 7% of respondents were not sure.

The Outcome

What will the hanjin shipping co. Collapse mean for the ocean freight market? Will rates eventually stabilize? What does it all mean for shippers? Share your thoughts on our linkedin page.

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