Join our crew and become one of the 110,467 members that receive our newsletter.

Maersk Line Planning Freight Rate Hike for Asia to Europe Route

Maersk Line Planning Freight Rate Hike for Asia to Europe Route

Reuters
Total Views: 6
October 20, 2015

 

ReutersCOPENHAGEN, Oct 20 (Reuters) – The world’s largest container shipping company, Maersk Line, plans to raise spot freight rates sharply on main routes from ports in Asia to ports in northern Europe with effect from Nov. 1, the company said on Tuesday.

Spot rates for twenty foot equivalent unit containers (TEU) will rise by $1,000, Maersk Line wrote in a letter to customers.

The planned price hike corresponds to a 429 percent increase from current levels if implemented successfully. Container rates typically rise in big jumps announced by the shipping companies before gradually easing back over time.

According to the Shanghai Containerized Freight Index, twenty foot rates from Asia to Europe stood at $233 last week, which is widely seen as a loss-making level. (Reporting by Ole Mikkelsen; editing by Sabina Zawadzki)

(c) Copyright Thomson Reuters 2015.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up
close

JOIN OUR CREW

Maritime and offshore news trusted by our 110,467 members delivered daily straight to your inbox.