HANJIN SHIPPING BANKRUPTCY COULD SIGNAL HIGHER FREIGHT FEES FOR ASIA OUTSOURCERS
November 1st, 2016
The bankruptcy of South Korea's Hanjin Shipping Company, the world's seventh-largest shipper, has exposed weaknesses in the global shipping industry, participants at the 28th Apparel Importers Trade & Transportation Conference held on Wednesday (Nov 9) in New York City warned.
Speakers added that the collapse could signal future higher shipping prices for importers of goods from the Far East.
The shipping line declared bankruptcy on August 31 and left some 144 ships holding USD14 billion’s worth of goods temporarily stranded as they were denied access to ...
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