Home » Breaking News, Maritime » Hapag-Lloyd to raise freight rates on Japan-North Europe loop

Hapag-Lloyd continues to schedule freight rate hikes on several of its routes. Effective April 1, the German ocean carrier will increase rates from Japan to North Europe by US$750 per 20-foot equivalent unit (TEU).

The new rates will apply on all shipments from Japan to North Europe (North West Continent, the UK, Scandinavia, Baltic, and European ports of Russia) and the Mediterranean (West and East Mediterranean, Black Sea, and North Africa), a company statement on February 6 said.

Hapag-Lloyd also announced an increase in rates for all cargo and container types from North East Asia (Korea, China, Hong Kong, and Taiwan) to Australia by $300 per TEU. The increase takes effect from March 15, 2012, the box ship said on February 3.

Other impending general rate increases announced earlier as part of the shipping company’s rate restoration program include the following:

  • Increase of $100 per TEU for all cargo and container types from East Asia (excluding Japan) and Oceania to the Indian Subcontinent, which is comprised of Bangladesh, Pakistan, Sri Lanka and India. New rates apply from February 15.
  • Increase of $150 per TEU for all cargo and container types from East Asia (excluding Japan) to the Arabian Gulf, with effect from March 1. The Arabian Gulf covers the ports in the United Arab Emirates, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, and Saudi Arabia.
  • Increase of $150 per TEU for all cargo and container types from East Asia (excluding Japan) to Red Sea (Jeddah, Aqaba, Sokhna, Port Sudan, and Hodeidah), with effect from March 1.

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