Home » Breaking News, Maritime » Rate hikes eyed for Far East westbound cargo

Hapag-Lloyd said it will increase rates for the Far East westbound trade effective December 17 to continue to provide its clients with “sustainable services.”

The ocean carrier, with headquarters in Germany, said on November 16 that all shipments from East Asia (excluding Japan) to all North Europe and Mediterranean (excluding South and West Africa) destinations will increase in rate by US$600 per 20-foot-equivalent unit (TEU).

Meanwhile, the company said on November 15 it was moving to December 15 the rate hikes earlier planned for December 1 for all dry, non-operative reefer, flat-rack, and open-top containers originating from East Asia and bound for all U.S. and Canada destinations.

From East Asia to the U.S. West Coast, Vancouver, and British Columbia Province, the rate hikes are $320 per TEU, $400 per 40-foot-equivalent unit (FEU), $450 per 40-foot high-cube container, and $506 per 45-foot container.

To the U.S. East Coast ports and the U.S. IPI and RIPI locations, Toronto, Montreal, Halifax all-water, and all other Canada in-lands, the rate increases are $480 per TEU, $600 per FEU, $675 per 40-foot high-cube container, and $760 per 45-foot container.

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