Container shipping costs, which radically plunged, now shows signs of recovery after the fall of Hanjin Shpiping Co. The strategy of Maersk Line, the world’s largest shipping group which cuts down shipping fees until its competitors fall down and pick fruit when they are liquidated, seems to be working. As most shipping volumes that Hanjin Shipping lost have passed to Maersk and Mediterranean Shipping Company (MSC), all South Korea, which once considered itself as a global leader in the shipping industry, can do is watch “a feast of winners” caused by the rise in shipping charges.
The spot rate from Asia to the U.S. West Coast, which was a main course of Hanjin Shipping and Hyundai Merchant Marine (HMM), the nation’s two biggest container lines, was recorded at US$1,608 per TEU, while Asia-U.S. East Coast rate was US$2,627. The rates of both routes grew 16.4 percent and 12.3 percent from those at the previous week.
