problem of ship shortages and soaring freight rates, which started at the end of last year, is getting serious. It was difficult to find a ship even at several times the freight rate, so Hankook Tire, the No. 1 tire manufacturer, could not find a ship to export, so it stopped operating its plant.
Correspondent Han Sang-woo.
Hankook Tire's Daejeon and two factories in Geumsan, Chungcheongnam-do have been shut down for three days from today (10th).
Hankook Tire's domestic and overseas factories produce 100 million units, worth 6.5 trillion won, and 40% of this is the business site.
The reason is that we cannot find a ship to export.
Exports account for 80% of total sales, and when it was not possible to ship them, tires piled up in the warehouse and there was no more space to store them, so the decision was made to stop production.
[Hankook Tire official: We have decided to adjust production due to the shortage of ships. Production adjustment will be carried out for three days from June 10.]
Not only Hankook Tire, but also Kumho and Nexen Tire are having difficulties in securing ships on almost all routes, including Europe, the Americas, and China.
Shipping rates are also soaring, which is a fatal blow to the profitability of companies with a high proportion of exports.
The Shanghai container freight rate index reached an all-time high of 3,613.07 on the 4th, and nearly quadrupled in a year.
If the situation is prolonged, such as being notified of the suspension of supply until the factory restarts, Hankook Tire's suppliers are expected to have a negative impact on small and medium-sized companies one after another.
As cargo volume surges due to the global economic recovery, the shortage of ships and high sea freight rates are expected to continue until the third quarter.
The emergency light was turned on at export companies to fear that exports, which are recovering quickly this year, might be caught in the footsteps of the shipping crisis.
(Video editing: Yonghwa Jung)