News / Samudera Shipping blames Hanjin collapse for Q3 dive into red ink

Singapore-listed intra-Asia shipping line Samudera today claimed Hanjin’s bankruptcy had hit its third-quarter volume, blaming the South Korean carrier for most of its double-digit decline in revenue.

“On the back of prevailing pressure on freight rates and a 2.1% decrease in volume handled, to 273,000 teu, largely due to the loss of volume from Hanjin Shipping after it ceased operation, revenue from the container shipping business declined 17.2% to US$52.1m in the third quarter 2016, compared with US$63m in the third quarter 2015,” it ...