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News Ocean Carrier Rate Revision Roundup for Feb. 10th, 2014

 

Major container lines hope to increase rates in multiple trade lanes in March, April and May, although any hikes achieved could be fleeting.

Carriers’ schedule reliability was down in 2013 and is expected to decline further in the next few months, as carriers continue to focus more on cost-cutting than on-time performance. However, this could hurt carriers when they seek general rate increases, as shippers know the lines are saving money and may be unwilling to accept further rate hikes, according to Simon Heaney, senior manager of supply chain research at Drewry.

Asia-Europe

Hapag-Lloyd plans to boost rates on eastbound and westbound cargo between the Far East and Europe by $525 per TEU, effective March 1. For eastbound shipments, the hike will be $150 per 20-foot container and $250 per 40-foot container.

CMA CGM also intends to hike rates on March 1:

  • From IndiaPakistan and Sri Lanka to North Europe, Scandinavia, the Mediterranean, Baltic, Black Sea, North Africa, Central America and the Caribbean and South America, the hike will be $200 per 20-foot container and $400 per 40-foot container.
  • From the Middle East to North Europe, the Mediterranean, Baltic, Black Sea andRed Sea, the increase will be $300 per 20-foot container and $500 per 40-foot container.

In the opposite direction, Maersk Line hopes to implement a general rate increase of $200 per 20-foot container and $300 per 40-foot, 40-foot high-cube and 45-foot high-cube container on shipments from Europe to the Indian subcontinent and Middle East, effective March 1. From Europe to Syria, the increase will be $150 per 20-foot container and $220 per 40-foot, 40-foot high-cube and 45-foot high-cube container. On the same date, the carrier also aims to raise rates on its trade from North Europe, including Scandinavia andRussia, and the Mediterranean, excluding Syria, to the Far East by $250 per 20-foot container and $350 per 40-foot container. From Syria to the Far East, the hike will be €190 per 20-foot container and €270 per 40-foot container.

In addition, CMA CGM intends to implement a general rate increase of $200 per 20-foot container and $300 per 40-foot container on its trade from North Europe to the Indian subcontinent, effective March 1.

Asia-Latin America

Hapag-Lloyd hopes to increase rates on its trade from East Asia to Mexico and the west coast of Central and South America by $600 per TEU, starting March 1. On the same date, the container line also intends to raise rates by $750 per TEU on cargo from East Asia, the Indian subcontinent and the Middle East to the east coast of South America.

Maersk plans to hike rates on two trade lanes, effective March 1:

  • From the Far East to South America’s east coast, the increase will be $750 per 20-foot container and non-operating reefer container, and $1,500 per 40-foot and 45-foot container.
  • From the Far East to South America’s west coast and Central America, the hike will be $600 per 20-foot container and $1,200 per 40-foot and 40-foot high-cube container.

On the same date, Mediterranean Shipping Co. aims to raise rates on cargo from the Far East to South America’s east coast by $750 per 20-foot container and $1,500 40-foot container.

Cosco Container Lines also intends to boost rates on its trade from the Far East to the west coast of South America and Mexico, starting March 1. The hike will be $600 per 20-foot container and $1,200 per 40-foot and 40-foot high-cube container.

Asia-Africa

CMA CGM plans to boost rates by $150 per 20-foot container and $300 per 40-foot container on cargo from the Middle East to North Africa, effective March 1.

Europe-Africa

CMA CGM hopes to implement a rate increase of €100 per 20-foot container and €175 per 40-foot container on shipments from North Europe to North Africa, effective March 15.

Trans-Pacific

Effective March 1, Evergreen intends to boost rates on dry commodities, excluding waste paper, from the U.S. and Puerto Rico to the Far East:

  • From the U.S. West Coast, the hike will be $40 per 20-foot container and TEU and $50 per 40-foot container, FEU and 45-foot container.
  • For cargo from the U.S East Coast and all inland points intermodal shipments via the U.S. West Coast or East Coast, the increase will be $80 per 20-foot container and TEU and $100 per 40-foot container, FEU and 45-foot container.

On the same date, the container line hopes to raise rates by $80 per 20-foot container and TEU, and $100 per 40-foot container, FEU and 45-foot container, for shipments fromCanada to the Far East.

Hapag-Lloyd aims to hike rates on dry shipments from North America to Asia, India and the Middle East, beginning March 7:

  • From Canada and the U.S., the increase will be $40 per 20-foot container and $50 per 40-foot container.
  • From all other origins, the hike will be $80 per 20-foot container and $100 per 40-foot container.

Starting March 15, Evergreen plans to increase rates by $160 per 20-foot container and TEU, and $200 per 40-foot container, FEU and 45-foot container on its trade from the U.S.and Puerto Rico to the Middle East.

In the opposite direction, Cosco hopes to implement a two-stage rate increase on its eastbound trade from the Far East and Indian subcontinent to the U.S. Effective March 1 and May 1, the hike will be $240 per 20-foot container, $300 per 40-foot container, $338 per 40-foot high-cube container and $380 per 45-foot container.

Drewry’s eastbound trans-Pacific rate for shipping from Hong Kong to Los Angelesremained flat for a fourth straight week in the week of Feb. 5, as a result of the Chinese New Year.

Trans-Atlantic

Maersk plans to implement a rate increase on dry cargo from the Mediterranean to theU.S. by $200 per 20-foot, 40-foot and 45-foot container, starting March 7.

Oceania-Related Trade

Maersk intends to boost rates on its trade from North Europe, including Scandinavia andRussia, and the Mediterranean, excluding Syria, to Australia and New Zealand by $250 per 20-foot container and $350 per 40-foot container, effective March 1.

Starting April 1, U.S. Lines plans to increase rates in its southbound trade from the U.S.and Canada to Australia and New Zealand via the Port of Tacoma, Wash. The hike will be $75 per 20-foot container and $150 per 40-foot container.

The Journal of Commerce

 
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