More Container Shipping Lines Announce Rate Increases

(Transport Intelligence)

APL and CMA CGM are set to join the growing ranks of global container shipping lines seeking to push up their rates over the next few months, particularly in the Europe-Asia trade.
This month has already seen several major lines announce such plans, including Germany’s Hapag-Lloyd and Danish global operator Maersk Line.

Now, APL, a unit of Singapore-based global shipping, logistics and marine terminals group Neptune Orient Lines (NOL), has reported that it intends to implement rate increases in both the eastbound and westbound Asia-Europe container trades over the next few weeks.

“Eastbound, for traffic from Europe to Asia, effective March 15, the quantum of the increase will be up to US$175 per container for paper and scrap commodities and $100 per container for all other commodities,” stated APL. “The quantum of the freight rate increase sought on containers shipped from Asia to Europe on the westbound leg is $250 per TEU, with implementation effective April 1. Read more here (subscription required)