Home » Breaking News, Maritime » Box carriers eyeing GRIs for Asia trade

Two ocean carriers are implementing higher rates over the next two months.

German container shipping line Hapag-Lloyd announced rate increases for its Japan-East Asia and Japan-Australia services effective early October.

Hapag-Lloyd will increase rates for all cargoes shipped from Japan to East Asia by US$100 per TEU (20-foot equivalent unit) effective October 1.

East Asia consists of Korea, Taiwan, Hong Kong, China, Vietnam, Laos, Cambodia, Thailand, Myanmar, Malaysia, Singapore, Brunei, Indonesia, Philippines, and Russian Pacific Coast Provinces.

A rate hike will also be imposed by Hapag-Lloyd on the Japan-Australia trade, also effective on October 1. All cargoes and all container types carried on this route will go up by $250 per TEU.

Meantime, Zim Integrated Shipping will implement general rate increases (GRIs) on the Asia westbound trade from mid-September.

From September 10, the Israeli shipping line will impose a freight rate increase of $300 per TEU from all Asian ports (excluding the Indian Subcontinent) to the West and East Mediterranean and the Black Sea region.

There will also be a $350 rate hike per TEU on the Asia (excluding the Indian Subcontinent)-North Europe (including Scandinavia and Baltics) sling, also from September 10.

Cargo bound from Asia to Israel will be levied $300 per TEU by Zim from September 15. The rate change does not include the Indian Subcontinent.

“These updates are necessary in order to maintain Zim’s current levels of service and high reliability,” Zim said in a press statement.

 

Photo courtesy of Hapag-Lloyd

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