Ocean freight rate benchmarking platform Xeneta said transpacific rates have been gradually rising since April, stripping out the short-term impact of Hanjin Shipping’s insolvency in late August.
The French shipping company, which acquired Neptune Orient Lines and its APL subsidiary earlier this year, is seeking a buyer for the APL container terminals.
The Atlanta, Ga.-based shipping and logistics provider reported year-over-year increases in net income and revenues for the third quarter of 2016 despite pressure from changes in fuel surcharges and currency exchange rates.
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Thousands of chassis in and around the ports of Los Angeles and Long Beach have containers mounted on them that are either owned or leased by the now insolvent ocean carrier Hanjin Shipping.
Sources said the South Korean liner carrier will lay off about 180 members of its 500 person workforce in the United States on Friday.
Ron Widdows, the former chief executive officer of both Neptune Orient Lines and Rickmers Holding, told American Shipper he thought Hanjin Shipping handled its financial collapse “pretty badly.”