http://www.wsj.com/articles/hanjin-shipp...ing-protection-from-creditors-1472683164
" South Korea’s Hanjin Shipping Co., one of the world’s largest shipping lines, stopped taking new cargo and U.S. ports began turning away its ships after it filed for bankruptcy protection on Wednesday.
The move, coming at a critical time for U.S. retailers stocking up for the holidays, roiled global trade and caused U.S. shippers to brace for steep rate increases on routes to and from Asia."
Freight rates have moved sharply higher.
This was inevitable, stalled world economy and too much capacity.
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