Hanjin Shipping announced a series of rate increases for Asia-Europe services starting Jan. 1 and running through September that will push prices higher by up to $600 a step on the trade lane.
The South Korean shipping line detailed seven increases at dates throughout the year for the westbound trade from the Far East and Southeast Asia to Europe, the Mediterranean and West Africa. It also specified four increases at different dates for the westbound trade from Southwest Asia to Europe and the Mediterranean.
The eastbound increases will come in four steps on most trade lanes, Hanjin said in its announcement, and surcharges of $300 per 40-foot equivalent unit will be added June 1 to Mediterranean ports and July 15 to North Europe destinations. The list increases would add $1,800 to the charge per FEU from the Far East to North Europe and the Mediterranean ports by Sept. 1.
The westbound increases, starting March 1 and ending Dec. 1, are aimed at pushing list rates up a total of $1,300 by the end of 2011.
The rate increases will apply to all shipments from ports in Asia, including the Far East, Southeast Asia and Western Asia to ports in Northern Europe, the Mediterranean and West Africa.
The Journal of Commerce Online
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