Hapag- Lloyd and CMA CGM, the major European Container shipping Companies have declared fresh prices and surcharges from several Asian Countries. The announcement will come into effect between late July to early August.
Initially, Hapag- Lloyd will apply a General Rate Increase (GRI) of about US$300 per standard TEUs and US$600 per standard as well as high cube FEU. The charges implementation will cover routes from Indian Subcontinents (including; Bangladesh, Sri-Lanka, Pakistan and, India) to the middle east nations (incorporating; UAE, Oman, Saudi Arabia, Bahrain, Iraq, Jordan, Kuwait, Qatar and, Yemen). The increase is estimated to be in effect from 23rd July, 2021.
Additionally, the German liner operators also announced a raise their prices by US$100 for similar assortment i.e., per standard and high cube units. Just like European companies, the German Charges will from the Karachi in Pakistan to the Arabian Gulf for settling the increase in action from August 1st, 2021.
Apart from this, the French company CMA CGM has also unfolded new Peak Season Surcharges (PSS) of US$1,000 per TEU of dry cargo. However, the decision is only applicable from dry cargo from India, North Europe, Baltic, Mediterranean, Black Sea, North Asia and Morocco.