Among other Shipping industry leaders, Hapag-Lloyd has announced that they will be pushing through a rate increase, on westbound services from Asia. The company has said that the increases would be equivalent to US$750, or approximately a 50 per cent rise in the cost of shipping a 20-foot container from Shanghai to Europe, based on current spot freight rates.
Aside from Hapag-Lloyd and OOCL, Maersk and Cosco Container Lines, have also confirmed their intention to raise shipping rates in mid-March as well. Cosco for one, has openly stated that it intends to implement a US$775 per TEU increase on shipments to Europe and the Mediterranean, with rises on other services from Asia. Maersk on the other hand has said it intends to apply only a US$600 per TEU increase, making it the lowest rate increase among industry leaders.
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