Maersk raises rates again
Danish giant Maersk Line has confirmed a further hike in its freight rates, in a move that follows a pattern conducted by the major shipping lines as they try and arrest the slide of rates to unsustainable levels.
Maersk will raise rates on its services in the Europe-Asia, North America-Middle East/Indian subcontinent and North America-Mediterranean/North Africa routes.
The carrier also announced that "due to rates falling to an unsustainable level in the US and Canada to Mediterranean trade", it was also planning a general rate increase in that market, effective from 1st May.
On the eastbound Europe-Asia route, Maersk added a commodity general rate increase – meaning waste paper, waste plastic, scrap metal, shredded tyres, rubber and paper pulp – of US$75 per FEU, effective from 7th April.
It seems likely that Maersk’s move may be replicated by other operators such as CMA-CGM and MSC in the not-too-distant future.