Hapag-Lloyd to levy US$750/TEU Asia-Europe rate hike from March

GERMANY's Hapag-Lloyd has announced a steep US$750 per TEU Asia-Europe rate increase from March, setting a sharp tone for annual shipper-carrier contract talks.

Similar action was taken last year when Hapag-Lloyd was the first to levy an unusually large Asia-Europe rate hike following a ruinous price war, noted London's Containerisation International.

"Within 48 hours, most major carriers had followed suit, some going for even larger increases. Evergreen, for example, went for a two-stage $900 per TEU upwards adjustment," CI recalled.

The March rate increase is separate from Hapag Lloyd's current peak season surcharge of $200 per TEU ahead of Chinese New Year holidays.

CMA CGM, among others, has implemented a peak season surcharge, while MSC has levied a $350 per TEU general rate increase from January 10.