News / Hapag-Lloyd to impose post-CNY rate hikes as blanked sailings slow the pace of price decline

© Jdanne | Dreamstime.com - Stack of Containers, Harbour of Khor Fakkan, United Arab Emirates

Hapag-Lloyd today announced a new general rate increase (GRI) of $900 per teu on headhaul westbound Asia-North Europe and Asia-Mediterranean shipments for 1 March.

The line also scheduled a transpacific GRI for 1 March of $540 per teu and $600 per feu.

The announcement coincided with another week of declining freight rates on the major east-west deepsea trades.

The Shanghai Containerised Freight Index (SCFI again headed south this week as the industry prepares for the two-week Chinese New Year holiday. This officially begins on Monday, but judging ...