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Hyundai to stop U.S. East Coast/Asia reefer service

Asia

Monday, October 15, 2012

The liner carrier Hyundai Merchant Marine said Friday it would no longer offer refrigerated container transportation service from the U.S. East Coast to Asia from Jan. 1. “The decision to suspend the service is based upon prevailing non-compensatory rate levels from the East Coast and longer roundtrip voyages which translate to higher costs for HMM,” the line said in a statement. It’s the latest hit for reefer cargo shippers, after Maersk Line announced in September i...

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