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. 27.10.2021
    27.10.2021
    by      In
    ‘Buy Australian Now’, the latest campaign from Australian Made is urging all Aussies to support local jobs and economic recovery by backing our local makers and growers as the country begins to open up and prepare for the festive season.
    According to Australian Made Chief Executive, Ben Lazzaro,... Read More
  2. 26.10.2021
    26.10.2021
    by      In
    Work, health and safety are fundamental to our lives and are, more than ever, a central focus for organisations.
    The Hunter region in NSW is well-known for leading the way in industry; this in turn has led to the region becoming champions of WHS.
    The Hunter Safety Awards were born out of desire to... Read More
  3. 19.10.2021
    19.10.2021
    by      In
    There is no doubt that the recent AUKUS agreement between Australia, USA and the UK was a surprise to just about everyone on the planet!
    Taking a closer look into the government’s decision to commit to the AUKUS alliance, much of what has been reported by mainstream media has been inaccurate or... Read More
  4. 18.10.2021
    18.10.2021
    by      In
    Australian Resources and Energy Group AMMA welcomes today’s intervention of the Australian Government seeking to put an end to three months of damaging strikes at Fremantle Port.
    It has been reported the Australian Government has stepped in, utilising its powers under the Fair Work Act to seek an... Read More
Products
Suppliers