Hapag-Lloyd announces rate increase

   Liner carrier Hapag-Lloyd said it will increase its transatlantic freight rates on July 1.
   Rates on both eastbound and westbound cargo between all coasts of the United States and Canada to and from North Europe and the Mediterranean will increase $400 on 20-foot containers and $500 on 40-foot containers. 
   The German carrier is also increasing rates between all coasts of Mexico and North Europe in both directions. The increase is $240 per 20-foot container and $300 per 40-foot container. 
   “The current situation in the trade has left us with unsustainable revenues paired with drastic and continuous cost increases for several months. As a consequence we need to improve revenues in the Atlantic trade in order to continue with the current service set-up,” the company said. 
   Hapag-Lloyd also said on June 4 it will increase rates for all cargoes and all container types moving westbound from East Asia (excluding Japan) to North Europe by $400 per TEU.  Also on June 4, the rate on cargo moving eastbound from North Europe and the Mediterranean to East Asia, Indian Subcontinent and Middle East will increase by $225 per TEU.