Ocean Carrier Rate Revision Roundup for March 7

3/10/2014 8:58:16 AM

Several container lines have scheduled rate hikes in multiple trade lanes from April to May, although any increases achieved could be temporary, as overcapacity continues to negatively impact carriers’ control over freight rates.

Asia-Europe

Maersk Line plans to raise rates on its trade from the Far East, excluding Japan, to North Europe by $525 per 20-foot container and $1,050 per 40-foot and 45-foot container, effective April 1.

On the same date, Hapag-Lloyd hopes to boost rates on westbound shipments from the Far East, excluding Japan, to North Europe and the Mediterranean by $525 per TEU. In the eastbound direction from Europe to the Far East, including Japan, as well as the Indian subcontinent and Middle East, the container line aims to raise rates by $150 per 20-foot container and $250 per 40-foot container.  

Asia-Australia

Beginning April 1, Maersk Line intends to hike rates on cargo from the Far East and Indian subcontinent to Australia:

• From Singapore, Malaysia, Indonesia, Philippines, Thailand, Vietnam, Pakistan, Sri Lanka and Bangladesh, the increase will be $200 per 20-foot container and $400 per 40-foot container.
• From South Korea, China, Hong Kong and Taiwan, the increase will be $500 per 20-foot container and $1,000 per 40-foot container.

On the same date, Hapag-Lloyd hopes to hike rates on its trade from Northeast Asia to Australia by $500 per TEU.

Trans-Pacific

Maersk will try to implement a rate increase on its trade from the Middle East, India and Pakistan to the U.S. and Canada, starting April 1. The hike will be $150 per 20-foot container, $200 per 40-foot container, $225 per 40-foot high-cube container and $250 per 45-foot container.

Trans-Atlantic

Beginning April 1, Hapag-Lloyd hopes to boost rates on its trade from the Indian subcontinent to the U.S. and Canada by $160 per 20-foot container, $200 per 40-foot container and $250 per 40-foot high-cube and 40-foot reefer container.

Maersk aims to boost rates on shipments from the Mediterranean to North America by $150 per 20-foot container and $250 per 40-foot and 45-foot container, effective April 7.

Effective May 1, Evergreen aims to raise rates on its trade from the South Africa, the Middle East and the Far East, excluding the Indian subcontinent, to the U.S. and Puerto Rico:

• For shipments to the U.S. West Coast, the hike will be $240 per 20-foot container, $300 per 40-foot container, $338 per 40-foot high-cube and reefer container and $380 per 45-foot container.
• For all other cargo, the increase will be $320 per 20-foot container, $400 per 40-foot container, $450 per 40-foot high-cube container and $506 per 45-foot container.

Latin America-Related Trade

Beginning April 1, Maersk intends to raise rates on cargo from North Europe to Central America, the Caribbean and South America’s west coast by €200 per 20-foot container and €400 per 40-foot and 45-foot container. For shipments from North Europe to Mexico, the increase will be $150 per 20-foot container and $300 per 40-foot and 45-foot container.

On the same date, the container line also hopes to boost rates on its trade from the Far East to South America’s east coast by $750 per 20-foot container, $1,500 per 40-foot container and $750 per 45-foot non-operating reefer container.

In addition, Hapag-Lloyd has scheduled a rate increase of €125 per TEU on cargo from North Europe to Latin America, excluding Mexico, starting April 1.

Africa-Related Trade

Maersk plans to increase rates on shipments from Houston to West Africa, effective April 1:

• For shipments to Apapa and Tin Can Island Port, Nigeria, the hike will be $30 per 20-foot container and $65 per 40-foot container.
• For cargo to Conakry, Guinea, the hike will be $15 per 20-foot container and $25 per 40-foot container.
• For shipments to Freetown, Sierra Leone, the increase will be $20 per 20-foot container and $40 per 40-foot container.
• For cargo to Matadi, Republic of Congo, the hike will be $40 per 20-foot container and $80 per 40-foot container.
• For shipments to Tema, Ghana, the increase will be $25 per 20-foot container and $45 per 40-foot container.

Also on April 1, CMA CGM aims to raise rates on its trade from Asia to East Africa, including Kenya, Tanzania and Zanzibar, by $150 per 20-foot container and $300 per 40-foot container.

The Journal of Commerce