Major container lines have announced rate increases for a variety of trades, as detailed below, slated to take effect in August, September and October.
Two carriers have planned rate hikes for Sept. 1:
- Cosco Container Lines will raise rates on shipments from the Far East to South America’s west coast and Mexico by $400 per 20-foot container and $1,000 per 40-foot and 40-foot high-cube container.
- Hapag-Lloyd will increase rates from East Asia, the Indian subcontinent and the Middle East to the east coast of South America by $750 per TEU. The container line will also hike rates from East Asia to the Caribbean, east coast of Central America and Panama by $980 per 20-foot container and $1,400 per 40-foot container, and to Mexico, the west coast of Central America and the west coast of South America by $500 per TEU.
Emirates Shipping Line will boost rates on westbound shipments from the Far East and Southeast Asia to the Middle East, starting Aug. 15. The hike will be $200 per 20-foot container and $400 per 40-foot container.
Cosco will hike rates for cargo from the Far East to the Red Sea, Persian Gulf and Indian subcontinent, effective Sept. 1. The increase will be $300 per TEU for shipments to the Red Sea and Persian Gulf, and $200 per TEU for shipments to the Indian subcontinent.
Other Asia Trade Lanes
Three carriers have planned rate increases for Sept. 1:
- CMA CGM will increase rates on dry cargo moving from India and Pakistan to North Europe, the Mediterranean, Baltic, Black Sea, North Africa, Latin America and the Caribbean. The hike will be $350 per 20-foot container and $700 per 40-foot container.
- Emirates Shipping Line will raise rates for westbound shipments from the Far East and Southeast Asia to East Africa by $300 per TEU.
- OOCL will hike rates in its westbound trade from the Far East, excluding Japan, to North Europe, the Mediterranean and the Black Sea by $500 per TEU.
Additionally, starting Sept. 2, Hapag-Lloyd will increase rates on its westbound cargo from East Asia, excluding Japan, to North America and the Mediterranean by $500 per TEU.
Beginning Oct. 1, Hapag-Lloyd will raise rates in its trade from Canada, the U.S. and Mexico to North Europe and the Mediterranean by $100 per 20-foot container and $150 per 40-foot container. Likewise, from North Europe and the Mediterranean to Canada, the U.S. and Mexico, a rate increase of $150 per 20-foot container and $200 per 40-foot container will be applied Hapag-Lloyd on the same date.
Hapag-Lloyd will revise its demurrage and detention charges for imports and exports in Venezuela, effective Sept. 6; its empty container redelivery charge in the U.S., starting Sept. 7; and its inland tariff for Austria on imports and exports for combined rail and truck movements, effective Sept. 9.
Regarding new provisions applicable for foreign cargo remaining onboard vessels to Israel by Israeli Customs, Hapag-Lloyd has informed that the new rule has been postponed. Thus, submission of advanced cargo information to Israel will be mandatory as of Oct. 8.