Shipping Rate, Surcharge Update for Week of Aug. 13-17

 German container carrier Hamburg Sud will raise its rates on trades from the Indian subcontinent and the Middle East to Europe, South America and the Caribbean, starting Sept. 1. The planned increase on dry and reefer cargo will be $200 per 20-foot equivalent unit.

In related news, Hapag-Lloyd said it will hike rates on all cargo shipped from East Asia (excluding Japan) to the Indian subcontinent. Effective Aug. 27, the proposed hike will be $300 per TEU. The subcontinent region includes ports in India, Pakistan, Bangladesh and Sri Lanka. 

 Three major container carriers plan to raise rates on westbound trades from Asia to North Europe and the Mediterrranean, starting next month. Israel-based Zim Integrated Shipping Services will impose a rate hike of $200 per 20-foot equivalent unit and $400 per 40-foot equivalent unit, effective Sept. 1.

Japanese carrier “K” Line will push its rates up by $250 per TEU and $500 per FEU, also effective Sept. 1. Cosco Container Lines said it will seek a rate hike of $400 per TEU and $800 per FEU on all cargo from the Far East (including Japan) and the Indian subcontinent to ports in North Europe and the Mediterranean, starting Sept. 8. The subcontinent includes ports in India and Pakistan.

The rate restoration move follows similar increase announcements by rival operators, including Maersk Line, Hapag-Lloyd and Mediterranean Shipping Company.