Maersk Line announced plans to implement another rate increase for the trade from Southeast Asia and South Asia to Australia, effective Nov. 1, as part of a rate restoration program.
In an advisory to the trade, the carrier said the proposed increase follows serious erosion in rate levels over the past one year, coupled with soaring operational costs on the route.
“The rates from Southeast Asia (Malaysia, Singapore, Thailand, Vietnam, Brunei, Cambodia, Indonesia, and Myanmar) and South Asia (India, Pakistan, Sri Lanka, and Bangladesh) to Australia have fallen significantly since last year, resulting in current levels being about $300 per TEU less than in 2005,” it stated.
The carrier, based in Denmark, earlier raised rates by $300 per TEU, effective June 15 through Sept. 15, and imposed a peak-season surcharge of $250 per TEU, effective Aug. 25 until further notice.
