GERMANY's Hapag-Lloyd, the world's sixth largest carrier, has announced it will increase the rates for westbound Asia-Europe trade by US$1,000 per TEU with effect from July 1.

Additionally, the carrier plans to impose a peak-season surcharge of $500 per TEU for sailings from Asia to north Europe between August 1 and September 30, according to the carrier's statement.

For Asia-Mediterranean routes, the company will also impose a peak season surcharge of $650 per TEU from June 10 to August 31.