Maersk lifts freight rates again
Copenhagen, June 9, 2009
Maersk Line, the world's largest container shipper, said it will raise freight rates between Europe and Asia for the second time in two months as current price levels are still unacceptable.
The shipper, a unit of Danish shipping and oil group A P Moller-Maersk, said in a statement it would raise rates on transport routes from the Far East to the Mediterranean and North Europe by $300 per 20 foot container unit (TEU) on July 1.
It will also introduce a peak-season surcharge of $150 from August 1 through October 31.
"The trading conditions for the carriers operating in these markets are still subject to unacceptable rate levels and the situation is unsustainable in the longer term," Maersk Line said in a statement.
Maersk Line also lifted rates on routes from India, Pakistan, Bangladesh and Sri Lanka to the Mediterranean and North Europe, and increased them from the Mediterranean back to South Asia and to the Middle East on improved demand.
The shipping industry has seen freight rates and volumes dive in tandem with the global economic downturn. In May, Maersk reported first-quarter freight rates had dropped 24 percent year-on-year and transport volumes 14 percent.
In the same month Maersk Line announced higher prices between Europe and Asia, the world's busiest container trade routes, which took effect June 1. - Reuters
More Industry, Logistics & Shipping Stories
- Maritime courses draw more trainees
- Dow to showcase at Dubai coatings expo
- UAE aluminium sector backs Syria refugees
- Asry in big vessel repair milestone
- Flare, Jordan form parent company ‘Aereon’
- Drydocks delivers second MCV for US
- ASIS launches amphibious leisure boat
- Taskforce sought to develop Saudi downstream sector
- DP World launches $200m India project
- RAK 'exploring' ceramics unit stake sale
- Mideast carriers top global air freight growth
- DMCA launches maritime solution apps
- Saudi plans oil-to-chemicals plant at Yanbu
- Sabic gets four bids for JV with Mitsubishi Rayon
- Pentair, IDC launch industrial services JV
- Major maritime conference to be held in Dubai
- GPIC wins key IFA certification
- Gulf rules must aid e-commerce: Aramex
- Gulftainer expands 2013 ops by 50pc
- DMCA to take part in Dubai boat show
- Al Namal to launch eco-friendly chillers
- Abu Dhabi city ports to receive facelift
- Kuwait Styrene posts $180m net profit
- Drydocks set for key energy event
- Aramex launches new address check system
- Toshiba in green push at Bahrain expo
- Equate net profit surges 14pc to $1.2bn
- Shaikh Daij named new Alba chairman
- Al Abbas wins logistics rights to Sudan
- Milaha profits jump 14pc to top $260m