Maersk Line to Hike Asia-Europe Shipping Rates by $550 Per TEU
SINGAPORE, April 19 (Reuters) – The world’s largest container shipping company Maersk Line, owned by A.P. Moller-Maersk, plans to increase freight rates for transporting containers from Asia to Northern Europe by $550 per 20-foot equivalent unit (TEU) from May 1, it said on Tuesday.
The industry has been grappling with overcapacity and freight rates for shipping containers on the key route have plummeted 78 percent this year to a level widely widely seen as loss-making.
Maersk Line also aims to raise freight rates from Asia to some ports in Central America and South America’s west coast by $1,050 per TEU from May 15. (Reporting By Jacob Gronholt-Pedersen; Editing by David Goodman)
Sign up for our newsletter
Be the First
Join the 67,783 members that receive our newsletter.
Have a news tip? Let us know.