Container shipping company Maersk Line, a unit of A.P. Moller-Maersk, plans to increase freight rates on main routes from ports in Asia to ports in northern Europe with effect from April 1.
Rates for twenty foot equivalent unit containers (TEU) will be raised by $525 while the hike for forty foot containers (FEU) will be increase by $1,050, the shipping company wrote in a letter to client on Tuesday.
According to the Shanghai Containerized Freight Index, rates from Asia to Europe stood at $1,110 last week.
Source: Reuters, March 4.