News / Hanjin saga could redefine the container shipping landscape, says analyst

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The container market has been “turned on its head” by the collapse of Hanjin Shipping, according to Oslo-based ocean freight rate benchmarking platform Xeneta, which says it could be a “wake-up” call for large-volume shippers accustomed to long-term contracts at low rates.

Some analysts suggest the 40-50% spike in Asia-Europe and transpacific container spot rates that followed Hanjin’s entrance into court receivership on 31 August, will be short-lived, given the inherent structural overcapacity of the market.

But, with the benefit of feedback from its 600-strong international business ...