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Maersk Line increases Asia-Europe shipping rates

Zoom in font  Zoom out font Published: 2016-03-17  Views: 5
Core Tip: On Tuesday 15 March, Maersk Line reported plans to increase freight rates for transporting containers from Asia to Northern Europe by $400 per 20-foot equivalent unit (TEU) from April 1.
On Tuesday 15 March, Maersk Line reported plans to increase freight rates for transporting containers from Asia to Northern Europe by $400 per 20-foot equivalent unit (TEU) from April 1.

The increase would take rates up by 190 percent on the current level, that is widely seen as loss-making. The shipping company also aims to raise freight rates from Asia to ports in the Mediterranean by $500 TEU.

The container shipping industry has been struggling because of overcapacity as a result of the global economic downturn.

Swiss-based Mediterranean Shipping Company (MSC) and France's CMA CGM, the world's second and third-largest container shipping groups, said earlier in March they aimed to hike rates from Asia to Northern Europe by $500 per TEU, also with effect from April 1. (Reporting by Ole Mikkelsen; Editing by Greg Mahlich)
 
 
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