APL, owned by NOL Group, has become the latest container line to announce implementation of a rate increase in the Asia-Europe trade.
Eastbound, for traffic from Europe to Asia, effective 15 March 2009 the quantum of the increase will be up to US$175 per container for paper and scrap commodities and US$100 per container for all other commodities.
The quantum of the freight rate increase sought on containers shipped from Asia to Europe on the westbound leg is US$250 per TEU, with implementation effective 1 April 2009.
APL Vice President Asia-Europe Trade, Detlev Kerber said: “Freight rates in this trade have been falling drastically for more than a year. We are meanwhile facing a situation where in many cases not even variable transportation costs are covered by current freight rates. Our intention is to restore freight rates in the Asia-Europe trade to a sustainable level.”