The parcel carrier’s expedited shipping segment will raise prices by an average of 3.9 percent in Germany, effective Jan. 1, 2017, with prices in other countries varying based on local conditions, the company said in a statement.
The total value of cross-border freight between the United States and North American trading partners Canada and Mexico slipped another 6.4 percent year-over-year in June 2016, according to the Bureau of Transportation Statistics.
The London-based shipping research and consulting firm said that as currently planned, “The Alliance” will be "at a size disadvantage," making up 24 percent of East-West capacity.
Registration takes less than 1 minute.
Several ocean carriers have decided to launch various routes in order to fill the void from Hanjin’s halted operation.
The now insolvent South Korean ocean carrier released a status update Monday on the 97 vessels it operates, which illustrated that 59 of these vessels are still waiting in open sea.
Korea’s Financial Services Commission said the government will promote sales of Hanjin Shipping’s core assets to Hyundai Merchant Marine in a bid to maintain competitiveness of the Korean shipping industry.