Hanjin Container Lines Bankruptcy May Affect Retailer Sales

While most people in our industry are well aware that Hanjin Container Lines has gone into bankruptcy, many people outside of our industry are not aware of that fact. There have been a vast array of complications that have been put on the drayage companies, ports that have to deal with the containers and ultimately the U.S. Black Friday sales frenzy that may fall short on some products stuck on vessels.

There are thousands of containers at ports, on ships, and in various drayage yards around the country. These containers take up space, increase the time for drayage companies to navigate around these containers in their yards, and most importantly add costs to those companies that will be difficult to recoup from the Hanjin. These costs will be ultimately shared by the various companies and added to their overall operating costs. Collectively our industry may see a rise in short-term drayage costs as a result of Hanjin's bankruptcy.

In a recent article from Transport Topics, it has been said that Maersk, the market leader, may take part in some form of consolidation of Hanjin as well as Hyundai Merchant Marine as they are in the middle of a creditor-led debt restructuring program at this time as well.

Quick Tips for Importing LCL and FCL

• As always, ship your goods from overseas as early as possible.

• If the items are mission-critical for a project, opt for an air option for the entire shipment or a part of the shipment so you can move forward with your project or sale of the goods.

• Look at different port options if the current ports are jammed.

• Paying a little more on the front end may get you the desired result of receiving your goods sooner.

• If you need a Customs Clearance company for imports or exports, we have strategic partners that can help you meet your goals.

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