- Shippers are demanding more carrier financial information in the wake of Hanjin Shipping’s decision to file for receivership, Drewry told American Shipper.
- The shipping consulting and research firm is receiving increased requests for Z-scores, a measure to predict financial risk, as shippers fear other lines may face Hanjin's fate. The industry's risk level is expected to increase at the end of this quarter due to rising investor concerns, according to the report.
- However, financial information is not always available to the company or the public. As a result, some shippers have been directly demanding the carrier's hidden information under non-disclosure agreements.
Supply chains are still feeling the effects of Hanjin's bankruptcy worldwide. Whether it's empty containers piling up at ports, pending claims against the company for delayed cargo or recovering from the financial repercussions of the original delays, those responsible for managing the logistics are on edge about the shipping sector's stability.
But no company can afford to see its merchandise indefinitely adrift, especially now that it knows just how that can happen. As companies renew carrier contracts for the next fiscal year, it only makes sense that companies are taking increased stock in their supply chains' financial well-being. After all, most carriers cannot refuse closer consideration without the risk of losing business.
Client expectations have changed for the shipping industry, and transparency is the new gold standard. The creeping effect of calamity is unlikely to be overlooked without proof of stability from here on out.