Hanjin losses
Drewry said cash-strapped Hanjin Shipping has recently announced to its customers that it will be leaving two unprofitable trade lanes. The South Korean carrier will cease taking slots on the Asia‐Black Sea Express (ABX) service of China Shipping, Yang Ming and Wan Hai, and from April / May will pull out of the transatlantic market, where it operates one 4,367 teu ship (Hanjin Pheonix) on the CKYH Alliance and Evergreen TAE loop (dubbed NTA by Hanjin).
While Hanjin’s involvement in both trades has only been marginal, the move is symptomatic of a carrier that has been forced to curb its ambitions for global port coverage by persistently weak financial performances.
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