HANJIN

There you go...That seems to be the only viable option at this point.....

 

Zero hedge reports shipping rates for a 40 footer east coast via panama to Korea jumped to around 2400, west coast to Korea just jumped from 1100 to 1700 and is rising.

Three Hajin is stranded off our west coast, several more coming from Asia. Berthing and port of call is being denied to all Hajin globally. There is roughly 130 ships involved here.

Korea is moving to probably Federalize or control Hajin's ships where possible temporarly before everything is disposed of at fire sale prices. Other shipping is moving to fill the void. It will take time.

In mean time many US People who import and some export via Hajin are going crazy because boxes are stranded filled with critical parts, plastic xmas stuff and many of everything not moving if ever. We stand to suffer some losses if the factories and so forth have to stop.

Walmart just announced market that 7000 Office desk jobs will be eliminated system wide. So much for the grand pay raise they did last year.

 

THIS IS A HUGE FOLKS!

This is going to affect millions of people

 

I don't know about millions. The perishable will be lost and discarded when the fuel and expiry dates hit. That is replacable.

130 ships, call it 10,000 boxes per... 110K boxes maybe. US Ports throw twice that in a week.

 

We're so screws

 

More boxes per...http://www.cnbc.com/2016/08/31/hanjin-shipping-vessel-unable-to-dock-at-south-korea-port-yonhap.html

540,000 Twenty Foot Equivalent Units........

 

Sure thing. Train went by with stacks, usually around 400 or so on three engines several times a week for all points east of St Louis from west coast. We are a land bridge that bypasses Panama faster than ships can cross Panama for Europe. Takes less than 10 days by rail.

Anyway there was a noticable in Hanjin boxes. I don't know if this will be pernament or temporary.

 

Prince Rupert

 

Well, we've started stacking empties on our yard......not many though, thankfully we did little HanJin business.....

 

Not trying to hijack the thread and certainly don't want ANY job losses as a result of this, but does anybody think this could be bring back some manufacturing to US soil? You'd think at some point the shipping costs would supercede the cost of American labor.

Best of luck to all involved.