Industry sources say that many shipping lines have announced their plans of increasing freight rate on the Asia-Europe route. The United Arab Shipping Company has announced the increase in rate from October 1 on all the cargo from the Western Mediterranean and Adriatic to the Indian subcontinent and the Arabian Gulf; the increase is of USD 200 for every container, but, the shipments to Iran will attract USD 500 per Twenty Equivalent Unit (TEU). Hong Kong’s Overseas Orient Container Line has announced the rate hike from November 1 on the cargo from Asia to Europe of USD 525 per TEU. Again, there will be a general rate increase on cargo from Europe to Asia of USD 200 per FEU and TEU; the increase comes into effect from November 1. But, from October 15 itself, the lines will effect an increase of USD 200 per TEU in freight rates on services from Southeast Asia, India and the Middle East to Australia. The Danish Shipping major, Maersk Line falls in line announcing the rate increase on its container network service. Besides, it also applies at St.Petersburgh the dangerous cargo demurrage. The increase is of 30% in reefer rates; it will work out an average of USD 1,500 per TEU and it is said this increase is likely to come into effect from January 1, 2013. It can be noted here that Maersk is the market leader in the reefer segment.
Tuesday, 9 October 2012
Shipping lines announce hike in cargo charge on Asia-Europe route
Industry sources say that many shipping lines have announced their plans of increasing freight rate on the Asia-Europe route. The United Arab Shipping Company has announced the increase in rate from October 1 on all the cargo from the Western Mediterranean and Adriatic to the Indian subcontinent and the Arabian Gulf; the increase is of USD 200 for every container, but, the shipments to Iran will attract USD 500 per Twenty Equivalent Unit (TEU). Hong Kong’s Overseas Orient Container Line has announced the rate hike from November 1 on the cargo from Asia to Europe of USD 525 per TEU. Again, there will be a general rate increase on cargo from Europe to Asia of USD 200 per FEU and TEU; the increase comes into effect from November 1. But, from October 15 itself, the lines will effect an increase of USD 200 per TEU in freight rates on services from Southeast Asia, India and the Middle East to Australia. The Danish Shipping major, Maersk Line falls in line announcing the rate increase on its container network service. Besides, it also applies at St.Petersburgh the dangerous cargo demurrage. The increase is of 30% in reefer rates; it will work out an average of USD 1,500 per TEU and it is said this increase is likely to come into effect from January 1, 2013. It can be noted here that Maersk is the market leader in the reefer segment.
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