Please be advised that Hanjin Shipping, the seventh largest steamship line by capacity, has filed for bankruptcy
The impact on the shipping industry will be significant but please be assured that we are working on contingency plans
where O.T.S. Astracon and our customers could be affected. In light of this, we are working to get upcoming shipments
rebooked on new carriers to eliminate unnecessary risks. For cargo that is already enroute, we are taking whatever
steps are necessary to ensure timely release and delivery of shipments.
It is anticipated that this situation will cause capacity issues with other carriers as space becomes tight. We will monitor
this closely in order to reduce potential delay as much as possible.
Due to the impact this will have on the market, it could lead to increased rates through General Rate Increases (GRIs)
and a possible Peak Season Surcharge (PSS). As always, O.T. S. Astracon will work on mitigate these charges to the best
of our ability to keep your cargo moving at the most competitive rates possible.
This situation is very fluid but we will be monitoring it closely and keep you posted. If there are any questions in the
meantime please feel free to reach out to your account representative.