Maersk Posts Big Loss

December 2, 2006 by Splatty  
Filed under Seafreight, Uncategorized

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According to an article from World Trade Magazine; Maersk Line, the world’s largest steamship line,  will report a loss of $600 million this year.  Maersk blames rising fuel costs and decreasing freight rates for the loss.

Freight rates are down 6 percent from a year ago while fuel costs are up 35 percent per metric ton.

Maersk has cut capacity on Pacific routes and plans to raise rates by $300 per FEU (forty-foot equivalent unit) for shipments originating in Asia to the U.S. West Coast and by $500 to the U.S. East Coast.

Look for Maersk and other carriers to raise rates for 2007.

Maersk Line’s container volumes drop

Maersk to Raise Rates From U.S./Canada to Far East

Maersk to Close Portsmouth Call Center

Maersk Line to cut up to 3,000 jobs