Home » Breaking News, Maritime » Hapag-Lloyd cuts proposed Far East-North Europe rate hike

Hapag-Lloyd announced changes to its earlier notice to impose a rate hike and a peak season surcharge on its East Asia-North Europe service for implementation in August.

The Hamburg-based box ship on July 2 said it would levy a PSS of US$350 from August 1, 2012 to September 30, 2012 for all cargoes and container types from East Asia to North Europe.

In a media update on August 2, the company cut the rate hike to $150 per TEU. Covered period remains unchanged.

Meanwhile, the rate hike of $250 per TEU for all cargoes and container types from East Asia to North Europe remains in place, but the date of effectivity is moved from the initial August 15, 2012 to September 1, 2012, the company update added.

Hapag-Lloyd will also roll out a “rate restoration program” for its East Asia-Arabian Gulf trade. The rate increase is $500 per TEU effective August 20, 2012.

East Asia consists of Japan, Korea, Taiwan, Hong Kong, China, Macao, Singapore, Malaysia, Myanmar, Indonesia, Thailand, Philippines, Papua New Guinea, Laos, Cambodia, Vietnam, Brunei, and the Russian Pacific ports of Vladivostok and Vostochny.

North Europe is comprised of the Northwest Continent, the U.K., Scandinavia, Baltic, and the European ports of Russia.

The Arabian Gulf consists of the ports in the United Arab Emirates, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, and Saudi Arabia.

 

Photo courtesy of Hapag Lloyd

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