Bangkok Shipowners and Agent Association

Bangkok Shipowners and Agents Association
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Home News World Shipping News Hapag-Lloyd GRI a shock and awe tactic?
Hapag-Lloyd GRI a shock and awe tactic? PDF Print E-mail
Friday, 03 February 2012 08:30
CI Online 1/2/12
                                               
 The announcement from Germany's Hapag-Lloyd last week of a USD750 per TEU Far East westbound general rate increase effective March 1 was at first thought to be a misprint - surely it should read USD250 or even USD150?

But no...the just-profitable ocean carrier - as at the Q3 2011 stage - confirmed the correctness of the proposed increase, which is in some cases more than some shippers are currently paying all-in - including bunker, CAF and miscellaneous charges.

With the exception of Maersk - asking for USD775 from the same date - Hapag's GRI is by far the biggest hike proposed by any of its peers to date and is ambitious to say the least, but its shock and awe strategy could pay dividends; and could be the trigger that will help the container liner industry back to profitability.