Rate increase on the North America to Mediterranean trade

Maersk Line will be implementing a general rate increase on the Eastbound Mediterranean
trade from the East Coast and Gulf ports of North America to Mediterranean ports. The increase will apply for all cargo under Maersk Line independent tariffs and service contracts as agreed with our customers individually.
The level of increase will be USD 400 per 20' and USD 600 per 40' applicable on dry cargo and will be effective 15 November 2007.
Market developments have caused rate levels to deteriorate to unsustainable levels, while we are facing increased cost pressures. We expect that the recent capacity reductions in the trade will favourably influence the supply and demand balance. We intend to restore the rates to a level where we can address cost increases and continue to offer reliable and efficient
services in the trade.

Source:Transportweekly