HANJIN PREDICTS HIGHER CONTAINER SHIPPING REVENUES

   Hanjin Shipping, Korea’s largest shipping line, expects a rise in its
container shipping revenue this year because of increases in freight rates.
   The company plans to move 1.8 million TEUs in calendar 1999, the same as last year.
   The freight revenue, however, will grow to $2.5 billion from $2.3
billion last year "driven by improvement in freight rates for Asian
exports," Hanjin said.
   The Transpacific Stabilization Agreement, of which Hanjin is a member,
raised rates from Asia to the U.S. West Coast by $900 per FEU in May, not counting a $300 peak season surcharge from June through November.
   On the Asia/Europe trade, the Far Eastern Freight Conference — to which
Hanjin does not belong — has announced a $600-per-FEU rate hike for
outbound shipments from Asia, effective July 1.
   A spokesman for Hanjin said that the company expects the directional
imbalance and space shortage for outbound shipments from Asia to continue
this year.