Hapag Lloyd Raises Container Freight Costs by $200

Industry: Logistics & Shipping, Shipping
Company: Hapag-Lloyd
Company Intelligence Tag: Business Insights

Hapag-Lloyd, the German shipping company, has raised freight charges for containers departing Bangladesh by $200 per container, impacting container transport for North and South Europe. A 20-foot container to North Europe will now cost $659, up from $469, while South Europe charges rise from $711 to $911 per container. For 40-foot containers, North Europe will see new rates of $1,168 compared to $968, and South Europe charges increase to $1,372 from $1,172 per container. These adjustments will come into effect on November 1. Shipping companies typically adjust their freight charges annually, following the General Rate Increase (GRI) mechanism. The rise in freight charges comes amid challenges in the shipping industry due to the Russia-Ukraine conflict and economic conditions.

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