none

SHIPPERS REELING FROM HANJIN COLLAPSE

20-09-2016
by 
in 

The global community of shippers is still reeling from the shockwaves of the collapse of Hanjin Shipping, the world’s seventh-largest containership operator.

Oslo-based Xeneta has sourced shipping-rate data from more than 600 major international businesses, and many of them are struggling to deal with stranded inventory, rising prices, and claims of under-capacity from the remaining operators.

“The hanjin saga has the potential to redefine the container shipping landscape,” aid Xeneta CEO Patrik Berglund. “For an industry that has struggled with collapsing rates, severe overcapacity, and devastated profit margins – with even Maersk down 90% on the year for Q2 – this marks an opportunity to finally regain the upper hand at the negotiation table.”

Berglund says that for many of the firm’s community, it’s the stranded inventory that’s giving them the most troube. There’s an estimated USD $14.5 billion worth of goods that are marooned on vessels worldwide, belonging to over eight thousand companies.

With the short term rates already rising, the long term isn’t looking great. Prices for shipping are set to climb, as customers grow more desperate, and their options become limited.

Forecasts from Xeneta indicate that the future will be full of fluctuations and uncertainty, which is not comforting news.

Nonetheless, with appropriate handling of data, and prompt crisis response, they are confident that the impact of the collapse will soon be negated.

Related news & editorials

  1. coins
    12.05.2021
    12.05.2021
    by      In , In
    "From an industry perspective, the Government's second budget in a year locks in the recovery from recession and shifts gears from emergency measures to investing in the economy for the longer term," says Innes Willox, Chief Executive of the national employer association Ai Group.
    He described it... Read More
  2. apprentice
    12.05.2021
    12.05.2021
    by      In , In , In
    Liverpool Plains on the north-western slopes of New South Wales is a highly productive agricultural area. There are broad acre crops such as wheat, corn and sorghum, while dry-land and irrigated cotton crops thrive in the rich soil.
    Sheep graze in the hills surrounding Spring Ridge and the Caroona... Read More
  3. shaking hands graphic
    11.05.2021
    11.05.2021
    by      In , In
    Skills qualifications in manufacturing trades have undergone their biggest update in a decade, with the intention of developing a more productive workforce and one which has the skills required by today’s jobs. Developed by the Manufacturing and Engineering Industry Reference Committee, supported... Read More
  4. factory worker
    10.05.2021
    10.05.2021
    by      In
    A survey has found that while four out of five Australian workers feel optimistic about the next five years, only 30% of those in manufacturing feel the same way. It also found that 10% of Australian manufacturing workers reported losing their jobs last year. The findings were based on a global... Read More
Products
Suppliers