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Friday, April 6, 2001

Hapag-Lloyd to increase rates from Far East Westbound - East Asia to North Europe and Mediterranean

6 April 2016

The volatility on the Asia to Europe trade lanes have resulted in the container freight rates reaching unsustainable levels. To avoid service disruptions in the supply chain or services being withdrawn Hapag-Lloyd has to increase rates, the company said in its press release. In a continued effort to provide its customers with a high level of service and uninterrupted services and equipment supply Hapag-Lloyd announces an increased FAK (Freight All Kinds) rate for all cargoes for standard container types on the Far East westbound trade.

Hapag-Lloyd to increase rates from Far East Westbound - East Asia to North Europe and Mediterranean

Container ship Hamburg Express Image: Les Rickman

Valid from May 1, 2016 Hapag-Lloyd’s FAK rate subject to applicable surcharges will be:

- USD 925 per 20' Container
- USD 1750 per 40' Container
- USD 1850 per 40' High Cube Container

This new rate level is the first step to bring the rates back to sustainable levels and will be applicable from all base ports in Asia to all North Europe and Mediterranean base ports. Out ports will be subject to the prevailing transport additional in Europe and in Asia.

North Europe comprises North West Continent, the U.K., Scandinavia, Baltic and European ports of Russia.

Mediterranean comprises the West Mediterranean, East Mediterranean, Black Sea and North Africa.

East Asia comprises Japan, Republic of Korea, Taiwan, Hong Kong, China (PRC), Macao, Singapore, Malaysia, Indonesia, Thailand, Philippines, Laos, Cambodia, Vietnam, Brunei and Russian Pacific Ports of Vladivostok and Vostochny.

Source: Hapag-Lloyd

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