![]() ![]() Hanjin’s bankruptcy was a major factor, he said, although rates also were affected by the upcoming Chinese National day holiday, which will close factories, and by shipping lines sidelining vessels to reduce overcapacity. The price from China to West Coast ports rose from US$1,100 per container to as much as $1,700 on Thursday, while the cost from China to the East Coast jumped from $1,700 to $2,400, he said. jumped up to 50 per cent in a single day, said Nerijus Poskus, director of pricing and procurement for Flexport, a licensed freight forwarder and customs broker based in San Francisco. The price of shipping a 40-foot container from China to the U.S. This advertisement has not loaded yet, but your article continues below. Secretary of Commerce Penny Pritzker and Federal Maritime Commission Chairman Mario Cordero on Thursday, urging them to work with the South Korean government, ports and others to prevent disruptions. The National Retail Federation, the world’s largest retail trade association, wrote to U.S. Hanjin, the world’s seventh-largest container shipper, represents nearly 8 per cent of the trans-Pacific trade volume for the U.S. It said 540,000 TEU of cargo already loaded on Hanjin vessels would face delays. South Korea’s maritime ministry said in a statement that Hanjin’s troubles would affect cargo exports for two to three months, given that August-October is a high-demand season for deep-sea routes. Inside the aging lock that is one breakdown away from crippling North America’s economy.Port of Vancouver’s cargo volumes fall 5.9 per cent amid weak economy, falling loonie.A South Korean cargo ship is sitting idly in a B.C.Article content Recommended from Editorial ![]() Manage Print Subscription / Tax Receipt. ![]()
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