Home » Breaking News, Maritime » Hapag-Lloyd, CMA CGM set new Far East rate hikes

Germany’s Hapag-Lloyd announced more rate increases for the Far East trades beginning next year under its revenue recovery program.

From January 15, 2013, rates for all cargoes and containers from East Asia (excluding Japan) to the Indian Subcontinent (Bangladesh, Pakistan, Sri Lanka, India) will increase by US$200 per 20-foot-equivalent unit (TEU).

A general rate increase (GRI) is also set from February 1, 2013 for the Indian Subcontinent (India, Pakistan, Bangladesh, Sri Lanka, Maldives)-USA and Canada lanes. The GRIs include all dry, non-operative reefer, flat-rack, and open-top containers, and are as follows:

  • $320 per TEU
  • $400 per 40-foot-equivalent unit
  • $450 per 40-foot high-cube container
  • $506 per 45-foot container

The Hamburg-based box vessel will likewise hike rates on the East Asia (excluding Japan)-Red Sea loop.

All cargoes on this sling will have a GRI of $200 per TEU from January 1, and $300 per TEU from January 15.

The Red Sea involves the ports of Jeddah, Aqaba, Sokhna, Port Sudan, and Hodeidah.

Finally, the East Asia (excluding Japan)-Arabian Gulf trades are to set higher rates for all cargoes and containers from January 15. Hapag-Lloyd said a rate hike of $300 per TEU is to be levied on shipments bound for the United Arab Emirates, Bahrain, Iraq, Kuwait, Oman, Qatar, and Saudi Arabia (ports of Dammam and Riyadh via Dammam).

Meanwhile, Marseilles-headquartered CMA CGM will implement its on revenue restoration program on the Asia to the North Europe trade from January 10.

A GRI of $350 per TEU is to be levied on dry cargoes, OOGs, and break-bulk shipments from all Asian ports (including Japan, Southeast Asia, and Bangladesh) to all Northern European ports (including UK and the full range from Portugal to Russia).

 

Photo courtesy of Hapag-Lloyd

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