Home » Breaking News, Maritime » Cosco, Hapag-Lloyd set GRIs on trans-Pac trades

Hapag-Lloyd said it is implementing a two-step general rate increase (GRI) on the Far East-U.S./Canada trades, to take effect from December 2013 and from January 2014.

The German shipping line said the GRIs will include all dry, reefer, non-operative reefer, flat-rack, and open-top containers shipped from East Asia to all U.S. and Canada destinations.

East Asia is defined as Japan, Korea, Taiwan, Hong Kong, China, Vietnam, Laos, Cambodia, Thailand, Myanmar, Malaysia, Singapore, Brunei, Indonesia, Philippines, and the Russian Pacific Coast Provinces.

U.S. and Canada encompass the U.S. West Coast port locations, Vancouver, and British Columbia Province; as well as the U.S. East Coast port locations and U.S. inland point intermodal (IPI) points and reverse inland point intermodal (RIPI) points, Toronto, Montreal, Halifax all-water, and all other Canada inlands.

The first round of rate hikes takes effect from December 20, 2013. The increases are US$160 per 20-foot standard container, $200 per 40-foot standard container, $225 per 40-foot high-cube container, and $253 per 45-foot container.

The second GRI will be imposed from January 15, 2014. Rate hikes are $240 per 20-foot standard container, $300 per 40-foot standard container, $338 per 40-foot high-cube container, and $380 per 45-foot container.

The carrier said the previously announced GRI for Canadian destinations effective December 1 has been postponed to December 20.

Meanwhile, Cosco Container Lines is also gearing to apply GRIs to all dry and reefer cargoes from the Far East and Indian Sub-Continent to all U.S. destinations from December 2013 and January 2014.

In a November 21 announcement, Cosco said that from December 20, rates on this trade will be raised as follows: US$160 per 20-foot container, $200 per 40-foot container, $225 per 40-foot high-cube container, and $253 per 45-foot container.

Effective January 15, another set of GRIs will be implemented as follows: $240 per 20-foot container, $300 per 40-foot container, $338 per 40-foot high-cube container, and $380 per 45-foot container.

Cosco defines the Far East and Indian Sub-continent as covering Bangladesh, Brunei, Burma, Cambodia, Hong Kong, Macau, China, Taiwan, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Philippines, Singapore, Sri Lanka, Thailand, and Vietnam.

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