Hapag-LLoyd has announced it will increase freight rates on its container services to the North Atlantic, the US Gulf and the US west coast.Rate hikes will amount to US$200 per TEU and $250/FEU, starting from February 1.
The move comes amid increased pressure on freight rates following the entry in recent months of new players into the North Atlantic market.
Moreover, Hapag-Lloyd said it decided to raise rates in a bid to offset higher operational expenses, particularly as costs for charters, bunkering and additional security measures have gone up.
The shipping line added in a statement that it also plans to rationalise its capacity on its North America services, without providing further details.
The move comes amid increased pressure on freight rates following the entry in recent months of new players into the North Atlantic market.
Moreover, Hapag-Lloyd said it decided to raise rates in a bid to offset higher operational expenses, particularly as costs for charters, bunkering and additional security measures have gone up.
The shipping line added in a statement that it also plans to rationalise its capacity on its North America services, without providing further details.