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Numerous container lines have planned general rate increases in various trade routes to take effect July 1, although any gains achieved could be fleeting as overcapacity and sluggish global demand continue.
The worldwide container ship fleet grew 6 percent in 2013, fueled by growth in the post-Panamax segment in particular ahead of the opening of the expanded Panama Canal in early 2016, according to Danish Ship Finance’s latest Shipping Market Review report.
Shipping lines in their global operations have lost billions of dollars in four of the past five years because of overcapacity fostered by a rash of orders for new, large container ships. Although only four carriers in the world today have ships of 18,000 TEUs or larger either in operation or on order, more container lines may join the mega-ship club in the future as they seek to remain cost-competitive.
Trans-Atlantic
Maersk Line aims to increase rates on cargo between North Europe and the U.S. and Canada, beginning July 1:
- From the U.S. to North Europe, the hike will be $100 per 20-foot container and $200 per 40-foot and 45-foot container.
- From North Europe to the U.S., the increase will be $350 per 20-foot container, $500 per 40-foot container and $200 per 45-foot container.
- From North Europe to Canada, the hike will be $200 per 20-foot container and $300 per 40-foot and 45-foot container.
On the same date, the carrier also intends to raise rates on shipments between the Mediterranean and North America.
Hapag-Lloyd wants to boost rates on shipments from North America to North Europe, effective July 1:
- From Canada’s west coast and the U.S. West Coast, the hike will be $150 per 20-foot container and $200 per 40-foot container.
- From Canada’s east coast, the U.S. Gulf Coast and Mexico, the increase will be $110 per 20-foot container and $160 per 40-foot container.
- From the U.S. East Coast, the increase will be $50 per 20-foot container and $75 per 40-foot container.
In the opposite direction and on the same date, the container line intends to raise rates on cargo from North Europe to North America by $440 per 20-foot container and $530 per 40-foot container.
Hapag-Lloyd also wants to boost rates on shipments from North America to the Mediterranean, starting July 1:
- From the U.S. Gulf and West Coast and Canada’s west coast, the hike will be $75 per 20-foot container and $150 per 40-foot container.
- From Canada’s east coast and the U.S. East Coast, the increase will be $50 per 20-foot container and $75 per 40-foot container.
In the opposite direction and on the same date, the carrier hopes to raise rates on cargo from the Mediterranean to North America by $200 per 20-foot container and $375 per 40-foot container.
Mediterranean Shipping Co. also wants to boost rates on shipments from the east Mediterranean to the U.S. East and West Coast by $250 per 20-foot container and $300 per 40-foot container.
New low-sulfur limits that come into effect in North America and northern Europe at the beginning of 2015 are expected to boost trans-Atlantic shipping costs, according to Drewry Maritime Research.
Oceania-Related Trade
Three carriers have planned rate hikes for July 1:
- Maersk has scheduled a rate increase from Northeast and Southeast Asia to New Zealand, effective July 1. From Northeast Asia, the increase will be $250 per 20-foot container and $500 per 40-foot container, and from Southeast Asia, the hike will be $150 per 20-foot container and $300 per 40-foot container.
- Maersk also plans to boost rates on cargo from the U.S. to New Zealand and Australia by $250 per 20-foot container and $500 per 40-foot container.
- Hapag-Lloyd aims to increase rates on trade from Northeast Asia to Australia by $300 per TEU.
- Hamburg Süd will introduce a rate increase on its southbound trade from Hong Kong, South Korea, China and Taiwan to Australia of $300 per TEU.
Latin America-Related Trade
Maersk hopes to boost rates on its trade from the Far East to Central America, South America and the Caribbean, beginning July 1:
- From the Far East to the Dominican Republic; Haiti; Jamaica; Venezuela; Trinidad and Tobago; Panama; Puerto Rico; and Santa Marta, Baranquilla and Cartagena, Colombia, the increase will be $700 per 20-foot container and $1,000 per 40-foot, 40-foot high-cube and 40-foot reefer container.
- From the Far East to Cuba, the increase will be €550 per 20-foot container and €800 per 40-foot, 40-foot high-cube and 40-foot reefer container.
Two other carriers also plan to implement rate increases on July 1:
- Hapag-Lloyd plans to hike rates on forest products from Canada’s west coast to Chile, Peru, Ecuador and Colombia by $100 per 40-foot container.
- Hapag-Lloyd also wants to raise rates on shipments from East Asia to the Caribbean, Central America’s east coast and Panama by $700 per 20-foot container and $1,000 per 40-foot container.
- Hamburg Süd hopes to increase rates by $700 per 20-foot container and $1,000 per 40-foot container on cargo from Asia to the Caribbean.
- Hamburg Süd also plans to implement a rate increase of $150 per 20-foot container and $300 per 40-foot container on trade from the Mediterranean to South America’s west coast.
Intra-Asia
CMA CGM has scheduled a rate increase from Asia, excluding Japan, to Sri Lanka, Pakistan and West India by $150 per 20-foot container and $200 per 40-foot container, effective June 15.
The Journal of Commerce
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