Home » Breaking News, Maritime » Hapag-Lloyd rates for Far East services to increase

Hapag-Lloyd will implement a series of general rate increases (GRIs) on its East Asia routes as part of its rate restoration program.

The GRIs will be imposed from late August and from mid-September, the German ocean carrier said in press statements.

A rate increase of US$300 per 20-foot equivalent unit (TEU) will be levied on all cargo and all container types from East Asia (excluding Japan) to the Indian Subcontinent. The hike takes effect from August 27, the Hamburg-based box ship said on August 13.

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

The Indian Subcontinent includes the ports in Bangladesh, Pakistan, Sri Lanka, and India.

Freight rates are also set to rise for the East Asia-Japan lane effective September 17. All cargoes are covered by the $100 increase per TEU, Hapag-Lloyd said on August 14.

There will also be new rate hikes for all dry, reefer, flat-rack and open-top containers from East Asia to all U.S. and Canada destinations, effective from September 15.

From East Asia to the U.S. West Coast, Vancouver, and British Columbia Province, the new rates are $400 per 20-foot standard container, $500 per 40-foot standard container, $563 per 40-foot high-cube container, and $633 per 45-foot container.

From East Asia to the U.S. East Coast and U.S. IPI and RIPI locations, Toronto, Montreal, Halifax, and all other Canada inlands, the freight rates will go up by $560 per 20-foot standard container, $700 per 40-foot standard container, $788 per 40-foot high-cube container, and $886 per 45-foot container.

 

Photo courtesy of Hapag-Lloyd

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