Aug.17--HAPAG-Lloyd is to increase rates on transatlantic services effective October 1, 2012 to offset increases in bunker and other costs.

It is to increase westbound rates from North Europe to the Mediterranean to North America by US$320/TEU and $400/FEU and the same for eastbound from west coast North America to North Europe and Mediterranean, said the German carrier. Rates from the US East and Gulf coasts to east coast of Mexico and Canada to North Europe and the Mediterranean is to rise by $200/TEU and $400/FEU.

The increases come after the Hamburg-based carrier released second quarter net loss of $9 million blamed on soaring fuel prices.

(Source:shippingazette)