German container line Hapag Lloyd A G said it will hike freight rates by $500-1,000 per container for shipments from India to Northern Europe, Mediterranean and Black Sea ports as part of efforts to prop up rates. Hapag Lloyd is one of the two partners of the Gemini Cooperation, a new global ocean network operational collaboration along with Denmark’s Maersk A/S that was launched on February 1.
For hauling a 20-foot container from Jawaharlal Nehru Port located at Nhava Sheva to Northern Europe, the rate will be increased from $716 to $1,716 from July 1. While the rates for a 20-foot container from J N Port to Mediterranean and Black Sea ports will be raised to $1,637 from $637.
From Ennore (Kamarajar Port) to Northern Europe, the freight rate for a 20-foot container will go up from $1,114 to $1,614 and to Mediterranean and Black Sea ports, the rates will be hiked to $2,100 from $1,600. In the case of 40-foot containers, the new rate will be $1,332 from $332 for shipments from J N Port to Northern Europe and $1,274 from $274 to the Mediterranean and Black Sea. The rate from Ennore to Northern Europe for a 40-foot container will go up from $1,036 to $1,536 while the tariff to Mediterranean and Black Sea will be $1,950 from $1,450, the carrier said in a rate advisory.
