The German line said the increase is “due to the substantial increase in bunker prices” and has dubbed the increase an “interim fuel participation factor” (IFP).
The IFP will be initially set at $200 per TEU and will float on a monthly basis in line with Hapag-Lloyd’s existing bunker surcharge. The additional fee is applicable to all dry and refrigerated cargo.
European lines have begun taking measures to either scale back service or increase revenue on the backhaul trade from Europe to Asia. Last week, Maersk Line announced it would stop accepting bookings on the trade into May, while Mediterranean Shipping Co. said it would add no-show fees and equipment imbalance surcharges on the backhaul.
