Cosco raises Asia-Europe reefer rates US$1,500/FEU

12/15/2012 11:16:55 AM

COSCO has announced a rate increase of US$1,500 per FEU on Asia-Europe refrigerated cargo effective January 1. This follows several increases from other carriers, with Maersk boldly announcing its reefer rate increase at the Cool Logistics conference in Antwerp, saying it was "absolutely necessary". Marseilles-based CMA CGM and Geneva-based MSC have hiked rates too due to increases in operating costs and a desire to return to return to profitability. Some speculate that conventional reefer ships, which have been in decline as reefer boxes become more popular, may stage a comeback in response to the raft of general rate increases or refrigerated cargo.   Asian Shipper News

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