Effective July 1, Hapag-Lloyd will hike the rates on the Far East westbound trade by US$1,000 per TEU (20-foot-equivalent unit), applicable for all shipments from East Asia, excluding Japan, to all North Europe and Mediterranean destinations, except for South Africa and West Africa.
Effective June 10 to August 31, a PSS of $650 per TEU will be levied on the East Asia-Mediterranean loop. Japan is not covered by the rate increase.
From August 1 to September 30, a PSS of $500 per TEU will be applied on the East Asia-North Continent sling. The rate increase will not affect Japan.
East Asia is comprised of Japan, Korea, Taiwan, Hong Kong, China, Macau, Singapore, Malaysia, Indonesia, Thailand, Philippines, Laos, Cambodia, Vietnam, Brunei, Myanmar, Papua New Guinea, and the Russian Pacific Ports of Vladivostok and Vostochny.
North Europe consists of the Northwest Continent, the U.K., Scandinavia, Baltic, and the European ports of Russia.
The Mediterranean covers the West Mediterranean, East Mediterranean, Black Sea, and North Africa.
Meanwhile, Orient Overseas Container Line (OOCL) plans a rate hike from July for its Asia-New Zealand services.
The rate increase of $200 per TEU will be in effect from July 1 as part of the next phase of the company’s revenue recovery program, according to a statement from the Hong Kong-based container line.