German box carrier Hapag-Lloyd announced a general rate increase (GRI) effective next month on the Far East-North Europe/Mediterranean westbound and eastbound trades.
It said rates for all cargoes and container types from Asia to North Europe and the Mediterranean will be increased by US$525 per TEU westbound. This applies to all shipments from Asia (excluding Japan) to all North Europe and Mediterranean destinations.
Freight rates from North Europe and the Mediterranean to the Far East (including Japan, the Indian Sub-Continent, and the Middle East) will be raised by $100 per TEU.
The GRI takes effect from May 8, 2014.
Asia is comprised of Japan, South Korea, Taiwan, Hong Kong, China, Macau, Singapore, Malaysia, Indonesia, Thailand, Philippines, Laos, Cambodia, Vietnam, Brunei, and the Russian Pacific ports of Vladivostok and Vostochny.
The Indian Sub-Continent consists of India, Bangladesh, Pakistan, and Sri Lanka.
The Middle East covers Bahrain, Iraq, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, Sudan, the United Arab Emirates, and Yemen.
North Europe encompasses the Northwest Continent, United Kingdom, Scandinavia, the Baltic, and the European ports of Russia.
The Mediterranean covers the West Mediterranean, East Mediterranean, Black Sea, and North Africa.
Meanwhile, French shipping line CMA CGM will implement its own GRI on the Asia-Red Sea trade lane from April 15.
A rate hike for all cargo of US$200 per TEU will be levied on the Asia-Jeddah swing, while a GRI of $300 per TEU will be imposed on all shipments from Asia to all other Red Sea ports.
All Asian ports are covered in the GRI, including Japan, Southeast Asia, and Bangladesh.
The Red Sea ports embrace Jeddah, Ain Sukhna, Aqaba, Djibouti, Port Sudan, Aden, and Hodeidah.
Photo: Guilhem Vellut
