Maersk Line plans to exact ever-rising freight rates as 2012 unfolds

2012 04 14


DENMARK's Maersk Line is forecasting revenue losses and ongoing freight rate increases following its implementation of increases on March 1 and April 1, said company chairman Michael Pram Rasmussen.

Maersk Line's two rate increases of US$750 and $400 per TEU achieved a measure of what is needed, but higher rates will be applied to make up the difference, Mr Rasmussen told the company's annual general meeting in Copenhagen. "This is not done, there will be more," he said.

The carrier has also cut capacity on its Asia-Europe trades by nine per cent since February and will also be reducing the speed of its ships and increasing the number of port calls, reports Reuters.

Source Shipping Gazette - Daily Shipping News
 

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