German shipping company Hamburg Süd has revealed that it is set to be the latest group to increase freight rates, with rises set to be implemented on its westbound transatlantic services.
The move, the group said, is due to the fact that existing freight rates on these routes have reached levels that no longer cover costs.
'Hamburg Süd has decided to adjust its rates in the westbound transatlantic services in order to continue offering its customers the high level of reliability and efficiency they are familiar with,' the group said in a press release.
The changes will come into force on 10 April 2009, with rates increasing by US$160 for a 20ft equivalent container and US$200 for a 40ft equivalent container.
