HANJIN

Actually no.

Shipping rates have exploded for 20 and 40's on both coasts. KACHING to the top 4 survivors above Haijin scrambling to whistle up some ships off the Baltic Dry.

If you examine Marine Watch, you will identify certain anchorages around the World in which ships go, anchor and then sit wait as dead hulks to conserve money until the freight picks up again. Usually it's oil tankers waiting for the price to increase before making delivery. They would wait months. Hundreds of ships.

They probably just started firing them up.

 

http://www.usnews.com/news/business...tcy-causes-global-shipping-chaos-retail-fears

This bankruptcy is going to have some serious impact on the trucking industry, especially and immediately for trucking companies contracted to haul containers. Goods either stuck on board ships or unable to be on loaded overseas will impact shipment to and from major retailer distribution centers.

Right now is peak season for shipping Holiday products. Hanjin is one of the biggest shipping lines. Shipping rates skyrocketed in one day.

Plan on a chaotic trucking scene over the next two quarters.

 

Wow they are like the swift of the seas bigtime impact on just in time model

 

Hanjin authority one day something new the next. They will call it something new. Something that big has a plan.

 

Competition dropped the cost of shipping a container from China to the US less than the cost of fuel to transport. Sound familiar? Maybe there's a lesson for trucking to learn here. When operations aren't covered by the gross, let alone even a profit, what's the point? Is flooding the US with underpriced slave wage goods a public service? I thought somebody was supposed to be making money besides the CEO.

 

Got that right....now that the Mexican nafta boarder is pretty much open, good luck making enough to even make a truck payment.

 

Everybody knows that Chinese interests have been building a deep draft harbor in Mexico, right? To circumnavigate US transportation? That was the point of getting the Mexican trucks to go past the border zones. The cost goes down and down.
Low priced cheap junk brings low wages. Pretty soon that's all anyone can afford. Spreading the wealth of the US to "developing countries" started with NAFTA, and even before.

Apparently we live too well.

 

Yup you are right on....nafta was the beginning to the end. I talk about the economy by pre nafta post nafta kinda like pre 9 11 post 9 11 for rights.

Can u imagine the Pacific treaty going thru? If our govt has its way Americans will be living in Palm tree huts soon.

 

Hanjin, likely ran themselves into bankruptcy pouring all their money into the super ships they've been building.

 

have your companies check around.. if its a hanjin LEASE box (non HJCU) the leasing companies will take their boxes back, but you have to contact them.