Shipping giant Maersk Line has re-announced the implementation of general rate increases for the second half of the year as part of the rate restoration programme unveiled at the end of 2009, covering cargo moving in both directions between the US and Canada from or to Europe, the Mediterranean and the Black Sea.
the increases will be US$400 per 20ft and US$500 per 40ft dry and reefer container, to be implemented on 1 July, with the US dollar amount of the planned October general rate increase dependent on the trading conditions in the second half of the year.
'Based on the dynamic market conditions experienced so far in 2010 we are pleased to see a degree of stabilisation with partial freight rate recovery,' the group said in a statement. 'However, Transatlantic trading conditions are still subject to unsatisfactory rate levels that have now been further aggravated by a general shortage of containers resulting in higher costs associated with positioning containers to where our customers need them for export.
Maersk Line noted in the release that the situation remained unsustainable in the long run, making rate increases a necessity in order to maintain a high level of reliability on services.
'Announcing these rate increases in advance will allow customers to plan their shipments with an understanding of the expected rate levels for the upcoming period,' the group added.
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