Danish shipping company Maersk has increased the price of its twenty-foot equivalent units (TEUs) by US$500.
'The General Rate Increase will apply to all dry cargo moving from all Far East Asia (excluding Japan) to all Europe destinations,' Maersk announced in a statement to customers.
The price rise comes as container shipping companies work to combat a drop in pay caused by the current state of the waterways, which are oversupplied with ships hastily ordered before the financial crisis.
Despite this overcapacity and the state of the global economy, the Danish oil and shipping conglomerate did secure an overall profit for 2012, with results expected to continue improving for 2013.
Maersk announced in February that it expects 'modest' 4-5 per cent container shipping growth in 2013 amid 'bleak' westbound traffic on Asia to Europe routes.
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