Freight rates for westbound traffic from the Far East (excluding Japan) to North Europe, the Mediterranean, and the Black Sea will be raised by US$775 per TEU (20-foot equivalent unit).
The new rates will be implemented from December 15 “in order to continue providing quality and sustainable services,” according to a company announcement.
Meanwhile, Germany’s Hapag-Lloyd will impose its own rate recovery drive on the trade lanes from East Asia to the Indian Sub-continent and the Arabian Gulf.
Rates for all cargoes and container types from East Asia (excluding Japan) to the Indian Sub-continent—covering the ports in Bangladesh, Pakistan, Sri Lanka, and India—will go up by $100 per TEU with effect from December 1.
A general rate increase is also scheduled for all cargoes and container types from East Asia (excluding Japan) to the Arabian Gulf. The rate hikes are $200 per TEU with effect from December 1, and $200 per TEU from December 15.
The Arabian Gulf is defined as the ports in the United Arab Emirates, Bahrain, Iraq, Kuwait, Oman, Qatar, and Saudi Arabia.