From steaks to furniture, Hanjin Shipping collapse to raise freight costs

Discussion in 'The Latest UPS Headlines' started by cheryl, Sep 9, 2016.

  1. cheryl

    cheryl I started this. Staff Member

    From steaks to furniture, Hanjin Shipping collapse to raise freight costs - Reuters

    The collapse of Hanjin Shipping will boost the cost to U.S. businesses and consumers of a wide range of imported goods, from furniture and clothing to fresh fruit and frozen meat, according to federal agencies, shippers and retailers.

    United Parcel Service Inc said on Thursday it is seeing a bump in demand for its freight services and is working with customers in Asia to shift goods from Hanjin containers to other ocean freight operators or air freight services. About $14 billion worth of cargo was stranded by the collapse of the seventh largest container carrier in the world.