APL Adds $750 to Asia-Europe Rates

APL Adds $750 to Asia-Europe Rates

APL is joining the container shipping drive to push up pricing on shipments from Asia to Europe, announcing it will add $750 to the rates on the troubled trade lanes effective March 1.

APL last week became one of the last in a parade of a major shipping lines to take what the carrier called a “rate restoration” that would effectively double charges per 20-foot-equivalent unit.

Most of the announced increases have been between $700 and $800 per TEU, and they have generally been targeted for March 1, at the start of the season when container shipping lines and shippers start negotiating annual service agreements.

Spot rates on Asia-to-Europe lanes fell to nearly $500 per TEU last year but have rebounded somewhat to more than $700, according to the SCFI Shanghai Containerized Freight Index.

Spot rate measures were fairly steady in January but the SCFI slipped back slightly in lanes to European and Mediterranean ports last week in the first report since the a break for the Chinese New Year.