Rising exports and fuel costs lead to higher U.S.-Asia export rates at Maersk

January 4, 2008 by SwizStick  
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Via LogisticsToday:

Higher fuel costs and increased export demand are behind a decision by AP Moller-Maersk to raise rates for moving ocean containers between North America and East Asia.

Maersk Line will increase prices for a standard 20-foot container by $160 and for a standard 40-foot container by $200.

Singapore Maritime Directory has more:

Maersk Line lost money in 2006 after shipping rates fell as fleet operators offered more vessels than needed, and because costs of integrating Royal P&O Nedlloyd exceeded budgets. The shipper said it expects to become profitable in 2007 as rates rise.

As the WTSA (Westbound Transpacific Stabilization Agreement – members APL, Hyundai, Cosco, K-Line, Evergreen, and more) has noted, booming U.S. exports to Asia in 2007 are contributing to equipment and fuel cost issues.

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