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IMPORTANT NOTICE Hanjin Bankruptcy
 
IMPACT OF THE HANJIN BANKRUPTCY
This morning one of the world’s (7th) largest steamship companies went into bankruptcy receivership, and ports throughout the world have either seized the vessels in lieu of payment or denied berth access altogether for fear of non-payment of docking fees.
We at RSE have been following the Hanjin saga for months now, and we can assure you that absolutely no cargo under our management has been allowed aboard a Hanjin vessel for that precautionary period.
The impact of taking dozens of ships out of the market, some accommodating as many as 6,500 forty-foot containers on each vessel,  has applied significant upward pressure on pricing, especially in the Transpacific eastbound shipping lanes.
 
Because of this situation, many shiplines, who have been flooded with business to overcapacity levels, have already announced price hikes, or General Rate Increases (GRI) exacerbated by the late summer and autumn already being the busiest time of any year.  America’s retailers fill up the ships from Asia to the USA at this time of year, in order to get their merchandise into their distribution centers anticipating the busy Christmas selling season.  In addition to GRI’s, all carriers have also declared Peak Season Surcharges (PSS) of several hundred dollars per container, but these surcharges typically are removed as the peak subsides, typically in late December and January.
 
RSE continues to monitor the situation on an hourly basis, and you can rest assured that we will do our utmost to ensure the smooth management of your cargo throughout the world.
For any concern call us and ask our expert Chris Liberty
650-204-6010
or
chris.liberty@rsexpress.com
 
RS Express is a professional cargo management company, providing international transportation, customs clearance, and warehousing services throughout the world, in addition to the management of information that underlies each segment as backbone.  Visit us at:  rsexpress.com