Mike King, Special Correspondent | Jan 31, 2012 11:48AM EST
Maersk Line is moving to take rate increases on Asia-Europe lanes to a higher level, announcing a $775 increase in pricing effective March 1 that would push the rate to more than double the current spot market price.
The Danish carrier said the general rate increase will be applied to all dry and reefer cargo shipped from any Asian port to destinations in North Europe and the Mediterranean. OOCL also announced a GRI of $200 per container moving from North Europe to Asia, effective Feb. 15.
The general rate increases on the depressed Asia-Europe trade come as container lines report deep 2011 losses caused by weak demand and low rates. The Shanghai Containerized Freight Index for the Asia-Europe trade fell below $500 in late 2011 and since has grown to around $730 per TEU. That is still barely half the rate at this time last year.
In an attempt to deter similar losses in 2012, carriers, including Maersk and Hapag-Lloyd, have pushed rate increases on services originating from the Far East.
-- Contact Mike King at michael@borderline.eu.com
