Home » Breaking News, Maritime » Hapag-Lloyd poised to boost East Asia rates

German ocean carrier Hapag-Lloyd plans to increase rates from East Asia to the Indian Sub-continent twice, effective from July and from August.

It will also levy a rate hike on the East Asia-Mediterranean route from August.

In official statements, Hapag-Lloyd said it will increase rates for all cargoes and container types from East Asia (excluding Japan) to the Indian Sub-continent by US$100 per TEU, or 20-foot-equivalent unit, with effect from July 22, 2013.

Moreover, the Hamburg-based company will impose another general rate increase (GRI) on the same sling of $100 per TEU with effect from August 15, 2013.

East Asia covers 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.

The Indian Sub-continent consists of the ports in Bangladesh, Pakistan, Sri Lanka, and India.

At the same time, the liner operator announced a rate hike of $500 per TEU on all cargoes and container types from East Asia (excluding Japan) to Mediterranean destinations (excluding South and West Africa) with effect from August 1, 2013.

The Mediterranean is comprised of West Mediterranean, East Mediterranean, Black Sea, and North Africa.

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