In International Shipping News 08/09/2016
Hanjin Shipping Co.’s filing for court protection has helped boost freight rates on a key route to the highest in more than a year as its vessels are stranded at sea. The Drewry Hong Kong-Los Angeles container rate benchmark surged 40 percent to $1,743 per 40-foot box in the week ended Wednesday. There’s a “near-term capacity squeeze” as ports are requiring payment guarantees for Hanjin’s vessels to berth, Lee Klaskow and Talon Custer, analysts at Bloomberg Intelligence, wrote in a report.
Source: Bloomberg
