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Hamburg Süd announces rate increase

HAMBURG Süd is set to increase the freight rates for its westbound transatlantic traffic, writes Friederike Krieger in Cologne. From April 10, rates on the services from Europe to the American continent will rise by $160 per teu and by $200 per feu. “We have to increase prices because the present rates are not covering our costs,” said spokeswoman Eva Graumann. On March 9, Hamburg Süd said it would reduce its service between ports in the Mediterranean and the east coast of South America, thereby eliminating overcapacity, which brought down prices.

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