Container line APL, saying earlier rate hikes haven’t been strong enough, said it will raise freight rates starting in June on Asia-Europe lanes for the second time this year.
"Despite the relative success of initiatives we implemented earlier this year, rates in the Asia-Europe trade are not even close to sustainable levels,” said Detlev Kerber, APL's vice president for the Asia-Europe trade. “We will be doing everything possible to ensure the latest rises are upheld."
The latest move follows a rate hike that APL announced in February 2009 after spot rates on the trade had fallen as low as zero, excluding bunker surcharges, during the winter months.
APL said it will raise its rates by $100 per 20-foot container on scrap commodities such as paper for the eastbound Europe-to-Asia leg starting June 1.
On the westbound Asia-to-Europe trade lane there will be an increase of $300 per TEU for all freight to the Mediterranean and North Europe, which will come into effect on June 15 and July 1, respectively.
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