Hapag-Lloyd today signaled its determination to reverse the accelerating rate slump on the Far East-Europe route by announcing a general rate increase of $1,000 per 20-foot container for westbound shipments to north European and Mediterranean ports from July 1.
The German ocean carrier also unveiled a $500 per 20-foot container peak-season surcharge from August 1 through September 30 from Asia to northern Europe. The two hikes exclude shipments from Japan.
There will also be a $650 peak-season surcharge on shipments from Asia, also excluding Japan, to the Mediterranean from June 10 through August 31.
The announcement comes amid a 30 percent collapse in spot freight rates on westbound shipments in the past five weeks, driven by a rising supply of ships over 10,000 20-foot-equivalent units and declining imports into a recession-mired Europe.
Hapag-Lloyd led the way with a round of general rate increases starting in March 2012 that helped push carriers into profit on the world’s biggest liner route.
Separately, the shipping line announced new levels for its Suez Canal transit surcharge, effective June 15:
- From North Europe to Oceania: €49 per 20-foot container, €98 per 40-foot container.
- From the Mediterranean to Oceania: US$62 per 20-foot container, US$124 per 40-foot container.
- From Oceania to North Europe and the Mediterranean: US$62 per 20-foot container, US$124 per 40-foot container.