MOL to levy series of Asia-Europe rate increases

MOL has announced the implementation of a series of US$300 per TEU Asia-Europe westbound rate increases from April 1 and from June 1 and again from August 1.

This is coupled to eastbound Europe-Asia general rate restorations that will increase rates $200 per TEU from April 1, and again from Sept 1.

While increased freight rates are never very popular, the current downward trend is completely unsustainable and MOL is confident customers will recognise the need to maintain stability and viability in their supply chain operations over the long term, said an MOL statement.

MOL said it has already significantly cut capacity from its global liner services, including the Asia Europe trade, to help reduce the imbalance between supply and demand.

Source: Transportweekly