China Shipping to increase freight rates 100pc April 9

CHINA Shipping Container Lines has confirmed its intention to increase freight rates 100 per cent in key services between Asia and Europe as well as in transpacific routes, reports Sea News.

From April 9, Asia-European trades freight rates will be doubled and total US$700 per TEU. In May freight rates on transpacific routes will increase from $1,200 to $1,650 per FEU, to South America they will climb from $1,100 to $1,600.

From April, 1 MOL, Hapag Lloyd, APL, MSC, Hanjin Shipping, Maersk Line and CMA CGM will also increase freight rates.

Source: Schednet