Transatlantic lines plan further rate hikes

Transatlantic lines plan further rate hikes    Three ocean carriers announced plans to raise transatlantic rates, starting March 1.
   Hapag-Lloyd and OOCL said Tuesday their rate increases are effective April 1, while Evergreen Line plans a series of increases from March 1 to Oct. 1.
   Hapag-Lloyd's increase will be $320 for 20-foot containers and $400 for 40-foot containers for all types of containers, rates for both eastbound and westbound cargo moving between North Europe and the Mediterranean and Canada, the United States and Mexico.
   OOCL said the rate increase is $400 per 20-foot container and $500 per 40-foot container for all cargo loaded or discharged at U.S. and Mexican ports. For cargo loaded or discharged at Montreal, the increase is $320 per 20-foot container and $400 per 40-foot container.
   'Ocean freight rates continue to be below the required level to cover basic operating costs or transportation costs,' the line said in a statement. 'Considering that the current levels are unsustainable for the long term, the increases are required in order to maintain a viable service level and a comprehensive liner network.'
   The line added: 'Further rate restorations to be applied during 2010 will be announced in due course.'
   Evergreen previously announced westbound increases, effective April 1, of $350 for 20-foot containers and $450 for 40-footers. The carrier will implement increases in the same amount on both July 1 and Oct. 1. These are on top of an increase in the same amount that the company made in October 2009.
   Eastbound on the transatlantic, the company plans a $300 increase on 20-foot containers and $400 on 40-foot containers for March 1, July 1 and Oct. 1. The increase applies to all commodities.
   Evergreen also announced a special increase for cotton of $150 for 40-foot containers from North America to Asia, effective April 1.
   Evergreen said the hikes are “essential to bring freight rates back to sustainable and viable levels so that we can continue providing a comprehensive network and quality of liner services that our customers expect.”