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Hapag, Mitsui OSK set to increase freight rates

Friday, 16 March 2012 | 13:08
From March 15, Germany's Hapag-Lloyd and Japan's Mitsui OSK Line will increase the rates by $150 a TEU on all shipments from the Far East (excluding Japan ) to the Indian sub-continent covering India, Pakistan, Bangladesh and Sri Lanka, according to shipping industry sources.
The increase, according to carriers, has become necessary to cover costs and to maintain service quality.
Hongkong's Orient Overseas Container Line has joined other shipping lines to announce west-bound Asia-Europe rate increase of $450 a TEU from April 1.
The proposed increase will cover all shipments from the Far East (including Japan) to the Indian subcontinent, and West Asia to North Europe and the Mediterranean and Black Sea.
It might be noted that the world's number one container carrier, Maersk, first announced freight increase on the Asia-Europe route from March 1, followed by freight increase announcements by the world's second and third largest carrier, MSC and CMA CGM respectively, as well as a number of other carriers, the increase ranging from $400-700 a TEU from April 1.
weekly service
Meanwhile, in a bid to improve coverage of its West Asia/Indian Ocean/ East Africa services, Maersk has decided to introduce from April 10 new Mawingu Express offering weekly sailings covering Jawaharlal Nehru Port, Port Qasim, Salalah, Mombasa, Port Victoria and back to JN Port, the sources add.
Source: The Hindu Business Line
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