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.
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Following Hanjin Shipping filing for receivership, Hyundai Merchant Marine will start up two new services, one between Korea and the U.S. and one between Korea and Europe.
A bankruptcy court in Newark, N.J. will hear requests for modifications as Hanjin Shipping’s biggest shareholder, Korean Air Lines, has postponed a decision to provide cash to the carrier.
Electronics manufacturer Samsung said in court filings that "cargo owners are being held hostage," while Maher Terminals said it "is not required to extend free credit to Hanjin, and should not be forced to."