Hapag-Lloyd is to increase India export freight rates by $500-$1000 from July 1, impacting key trade routes and container sizes.
German shipping giant Hapag-Lloyd A.G. has announced substantial increases in freight rates for shipments originating from India, effective July 1st. This strategic move aims to bolster rates, with hikes ranging from $500 to $1,000 per container for exports bound for Northern Europe, the Mediterranean, and Black Sea ports.
Key rate adjustments:
- 20-foot containers from Jawaharlal Nehru Port (Nhava Sheva):
- To Northern Europe: Rates will increase from $716 to $1,716.
- To Mediterranean and Black Sea ports: Rates will rise from $637 to $1,637.
- 20-foot containers from Ennore (Kamarajar Port):
- To Northern Europe: The freight rate will go up from $1,114 to $1,614.
- To Mediterranean and Black Sea ports: Rates will be hiked from $1,600 to $2,100.
- 40-foot containers from Jawaharlal Nehru Port (Nhava Sheva):
- To Northern Europe: The new rate will be $1,332, up from $332.
- To Mediterranean and Black Sea ports: The rate will be $1,274, up from $274.
- 40-foot containers from Ennore (Kamarajar Port):
- To Northern Europe: The rate will increase from $1,036 to $1,536.
- To Mediterranean and Black Sea ports: The tariff will be $1,950, up from $1,450.
Hapag-Lloyd, a key partner in the newly formed Gemini Cooperation (a global ocean network operational collaboration with Denmark’s Maersk A/S launched on February 1st), stated these adjustments are part of broader efforts to prop up freight rates across these vital trade lanes. The increases will affect various container sizes and routes, as detailed in the carrier’s recent rate advisory.
Source: ET
