GERMAN shipping giant Hapag-Lloyd will increase its freight rate March 15 by adding a US$700 peak season surcharge on containers bound for Tin Can Island and Apapa ports in Lagos, reports Abuja's Leadership.
Growing demand has led to lack of space on vessels and increasing costs for supplying sufficient equipment, said Hapag-Lloyd, the world's first biggest container shipping company. 
Meanwhile, Maersk also introduced peak season surcharge that took effect February 15, but excluded TinCan, Apapa and Onne Ports in Nigeria.