Several container shipping lines have planned general rate increases in numerous trade lanes in September and October, reports container shipping news site Joc.com.
Maersk line plans to boost rates on shipments from the Far East, excluding Japan, to North Europe by US$400 per 20-foot container and US$800 per 40-foot and 45-foot container, effective 1 September, Joc.com reports.
Hamburg Süd plans to raise rates in its trade between Europe and the UK, and the Mediterranean and Levant region. The increase will be €100 per 20-foot container and €150 per 40-foot container.
Beginning 1 October, Maersk hopes to increase rates in its trade from Europe to the US. For shipments from North Europe, the hike will be US$250 per 20-foot container and US$350 per 40-foot and 45-foot container, and for shipments from the Mediterranean, the increase will be US$200 per container.
On the same date, Hapag-Lloyd has scheduled a rate hike on trans-Atlantic shipments from Europe to North America.
US Lines plans to boost rates on its eastbound trade from Asia to the US by US$480 per 20-foot container, US$600 per 40-foot container, US$675 per 40-foot high-cube container and US$760 per 45-foot container, starting 1 September.
Maersk intends to raise rates on cargo from South East Asia to Australia, starting 15 September. The hike will be US$300 per TEU and US$600 per FEU.
Effective 1 October, US Lines plans to implement a rate increase on southbound shipments from the US to Australia and New Zealand. For shipments from the US West and Gulf Coast, the hike will be US$250 per TEU, and for shipments from the US East Coast, the increase will be US$150 per TEU.
Hapag-Lloyd plans to increase freight rates in both directions in the Europe-to-Latin America trade lane, beginning 1 October.
But any gains achieved by rate rises could be fleeting as overcapacity and sluggish global demand continue, the Joc.com report said.
Carriers’ earnings continue to reflect a trend in which the world’s biggest carriers are profitable while much of the rest of the industry is struggling, said the report. The world’s largest carrier, Maersk Line, and CMA CGM, the number two global carrier, both show growing profits in their latest financial results. Meanwhile, China Cosco said on 28 August it experienced losses in the first half amid excess capacity and weak freight rates.
According to Joc.com, Mitsui OSK Lines said in its mid-year earnings report that despite needing to speed up ships on certain routes because of port delays, it will implement increased slow-steaming, becasue of a sharp deterioration in its container shipping financials.
Congestion hurt carriers’ schedule reliability almost across the board in July, as all of the Top 20 carriers except United Arab Shipping Co experienced a decline in global schedule reliability, according to a new report from SeaIntel Maritime Analysis.
