Maersk Line, expanding its bid to raise prices, posted a series of rate increases today on its service from Asia to Latin America that will take effect on June 1.
It said it is implementing what it called a “rate restoration” program because “trading conditions for the carriers operating in the markets between Asia and Latin America are still subject to unacceptable rate levels and the situation is unsustainable in the longer term.”
The increases follow the rate hikes that the Danish carrier announced in March on services from Asia to Europe. The rate increases followed severe cuts in capacity on that route that were deep enough to enable it to raise rates, observers said at the time.
The Danish carrier said it plans further rate increases and a peak season surcharge on service from Asia to Latin America that will be applied later in 2009, but has not yet decided on the exact timing and amounts. It said it will announce the increase “in due time.”
The June 1 increases are as follows:
---$300 per twenty-foot-equivalent container, $600 per forty-foot-container and $600 per high-cube container on services between Asia and the West Coast of South America;
----$200 per TEU, $300 per FEU and $300 per high-cube on services between Asia and Central America and the Caribbean (Costa Rica, Panama, North Colombia, Venezuela, Caribbean Islands); and
--$200 per TEU, $300 per FEU and $300 per high-cube on services between Asia and Mexico and Central America (Mexico, El Salvador, Belize, Honduras, Nicaragua).
It said it is implementing what it called a “rate restoration” program because “trading conditions for the carriers operating in the markets between Asia and Latin America are still subject to unacceptable rate levels and the situation is unsustainable in the longer term.”
The increases follow the rate hikes that the Danish carrier announced in March on services from Asia to Europe. The rate increases followed severe cuts in capacity on that route that were deep enough to enable it to raise rates, observers said at the time.
The Danish carrier said it plans further rate increases and a peak season surcharge on service from Asia to Latin America that will be applied later in 2009, but has not yet decided on the exact timing and amounts. It said it will announce the increase “in due time.”
The June 1 increases are as follows:
---$300 per twenty-foot-equivalent container, $600 per forty-foot-container and $600 per high-cube container on services between Asia and the West Coast of South America;
----$200 per TEU, $300 per FEU and $300 per high-cube on services between Asia and Central America and the Caribbean (Costa Rica, Panama, North Colombia, Venezuela, Caribbean Islands); and
--$200 per TEU, $300 per FEU and $300 per high-cube on services between Asia and Mexico and Central America (Mexico, El Salvador, Belize, Honduras, Nicaragua).