Mediterranean Shipping Co. has announced several rate increases for cargo shipped from Asia.
The container line will be raising rates as follows, with all hikes effective July 1:
From the Far East to West Africa, including Angola: US$250 per 20-foot container; US$500 per 40-foot container.
From Asia to East and South Africa: US$300 per 20-foot equivalent unit.
From Asia, except Japan and Bangladesh, to North Europe, including the United Kingdom, Scandinavia and the Baltic: US$1,000 per TEU.
From Southeast Asia to Australia: US$150 per TEU.
Containerized exports from Asia to Australia/Oceania are on the rise, although they did dip in March year-over-year, according to data from Container Trades Statistics, and exports to Africa also climbed in the first quarter. Asia-Europe container trade was down 1.4 percent year-over-year in the first quarter.