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Maersk Line to Hike Asia-Europe Rates in November

Maersk Line has plans to increase the price of shipping a 20-foot ocean container from Asia to Europe by $600 in November because current rates are “increasingly unsustainable.”

The higher rate will apply to all cargo moving from Far East Asia, excluding Japan, to North Europe and the Mediterranean. Rates for 40-foot containers will rise by $1,200.

The Danish carrier, which has a leading market share of close to 20 percent on the high volume route, said it might hike rates by an even greater amount.

“The recent freight rate development in the container market from Asia to North Europe has made it increasingly unsustainable to run the service at current rate levels,” the container line said in a notice to shippers. “Should an upward adjustment of this amount be necessary, the final increase will be advised latest by Sept. 30, to come into effect Nov.  1, 2013.”

via: www.joc.com