Maersk Announces Rate Increase

By Aiswarya Lakshmi
Thursday, February 18, 2016
Photo: Maersk Line

 The world’s largest container shipping company Maersk Line said that it will increase the rate from north Europe to west central Asia by US$100 per TEU, $150 per FEU and 40-foot high cube from March 1.

 
This will apply to shipments from Finland, Russia, Lithuania, Estonia, Latvia to Bahrain, Iraq, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, UAE, Yemen, Bangladesh, India, Pakistan and Sri Lanka.
 
Maersk Line would also change the way it announces price changes to its customers, following the European Union’s antitrust investigation into price collusion.
 
Maersk also issued another general rate increase (GRI) adding US$100 per TEU, $150 per FEU and 40-foot high cube from March 1 for shipments from Ireland, United Kingdom to Bahrain, Iraq, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, UAE, Yemen, Bangladesh, India, Pakistan and Sri Lanka.
 
The EU had been looking into whether public announcement of freight rate changes a month ahead of time was a way of the container shipping companies to fix prices together.
 
The company, part of global conglomerate AP Moller-Maersk ,  will also increase the rate by US$150 per container for all shipments from north Europe to the Far East from March 1.
 
Maersk will increase the rate $80 per TEU, $100 per FEU, reefer, 45-foot high cube for shipments from Ireland and UK to the Far East from March 1.
 
Maersk will also increase the rate $120 per TEU, $150 per FEU, 40-foot high cube, 45-foot high cube and reefer on March 1 for cargo from Archangel, Kaliningrad, Kronshtadt, St Petersburg to the Far East.
 

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