APL Seeks Rate Increase on Asia-Europe Trade

6/21/2012 10:45:41 AM

APL plans to implement a general rate increase on the westbound leg of Asia-Europe trade, effective July 1.   The Singapore-based liner operator, which suspended a $350 per 20-foot container peak-season surcharge that was scheduled to take effect June 1 on cargo from Asia to North Europe and the Mediterranean, will raise its rates by $500 per TEU.   “The rate restoration is applicable to all shipments from Asia, including Japan, Australia, the Indian Subcontinent and the Middle East, to North Europe, the Mediterranean and Black Sea,” APL India said.   The Subcontinent region includes India, Pakistan, Sri Lanka and Bangladesh.   Amid slowing trade volumes and rate-cutting on Asia-Europe routes, almost all rival carriers have also suspended their plans to collect peak-season surcharges in June and instead announced rate hikes starting July 1.   Other July 1 general rate increases on the Asia-Europe lanes include a $500 per TEU hike by Hapag-Lloyd and Mediterranean Shipping Company; a $400 per TEU increase by Hanjn Shipping and Orient Overseas Container Line; and a $505 per TEU boost by United Arab Shipping.   The Journal of Commerce Online

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