Yang Ming hikes Asia-US rate US$400/TEU, $500/FEU on August 10

TAIWAN's Yang Ming Line will implement a general rate increase of US$400 per TEU, $500 per FEU, $563 per 40-foot high cube and $663 per 45-footer on Asia to United States from August 10.

"The 2009-10 contracts were negotiated in the midst of a severely depressed economy and under tremendous competitive pressure," said the company, adding that the increases will apply to dry and reefer boxes too.

Yang Ming also said that because of the "prevailing unsustainable rate level' there will be "fewer lines operating at reduced service levels" and that an increase was needed to establish "supply chain sustainability and reliability of the trade".

(Source: www.schednet.com)