Maersk Line Adds $775 to Asia-Europe Rates

    Maersk Line is moving to take rate increases on Asia-Europe lanes to $775/TEU effective March 1, that would push the rate to more than double the current spot market price.

    The Danish carrier said the general rate increase will be applied to all dry and reefer cargo shipped from any Asian port to destinations in North Europe and the Mediterranean.

    The general rate increases on the depressed Asia-Europe trade come as container lines report deep 2011 losses caused by weak demand and low rates.  The Shanghai Containerized Freight Index for the Asia-Europe trade fell below $500 in late 2011 and since has grown to around $730 per TEU. That is still barely half the rate at this time last year.