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Carriers seen adjusting plan for box rate hikes

Published Sun, Oct 20, 2013 · 10:00 PM
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[COPENHAGEN] A further drop in freight rates last week could force Maersk and other shipping companies to renegotiate planned hikes in container rates on routes from Asia to northern Europe next month.

Maersk Line, the world's biggest container shipping company and part of oil and shipping group A P Moller-Maersk, has said it will attempt to hike rates on routes from Asia to Northern Europe by US$950 per TEU with effect from Nov 1, a 144 per cent increase if successful.

Such attempts are not uncommon in the industry, but are seen as a base for negotiation and the announced hikes rarely go through at planned levels.

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Transport & Logistics

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