The Korean carrier said it will raise rates three times in April, July and August by $300 for 20-foot containers and $400 for 40-foot containers.
The rates will be for both eastbound and westbound cargo moving between North America and Northern Europe as well as the Mediterranean.
Hanjin said the transatlantic trade suffered severe losses in 2009 caused by massive drops in cargo volume, which pushed freight rates to “unreasonably low levels. While the trade is now showing signs of recovery in the form of improving volume figures, fuel and other operation costs are increasing as well.
'This rate recovery program is necessary for us as we must maintain the quality service and schedule reliability that our customers expect from us,' Hanjin said. 'We will continue to seek all possible measures that will bring mutual benefits for us and our customers during this time of crisis.'
