Maersk Looks to Raise Asia-Europe Box Rates

The world's largest container shipping company, Maersk Line, plans to raise spot freight rates sharply on main routes from ports in Asia to ports in northern Europe, with effect from Dec. 1, the company said on Tuesday.

Spot rates for twenty foot equivalent unit containers (TEU) will rise by $1,000, Maersk Line wrote in a letter to customers.

The planned price hike corresponds to a 339 percent increase from current levels if implemented successfully. Container rates typically rise in big jumps announced by the shipping companies before gradually easing back over time.

Reporting by Ole Mikkelsen