Maersk Line to Raise Freight Rates from Asia to Europe

Container shipping company Maersk Line, a unit of A.P. Moller-Maersk, plans to raise freight rates sharply on main routes from ports in Asia to ports in northern Europe, with effect from July 1.

Rates for twenty foot equivalent unit containers (TEU) will rise by $575, the shipping company wrote in a letter to clients on Tuesday.

According to the Shanghai Containerized Freight Index, twenty foot rates from Asia to Europe stood at $1,202 last week.

(Reporting by Ole Mikkelsen; editing by Keiron Henderson)