Rate increase to hit North Atlantic shipping

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From the beginning of 2007, Maersk Line is to charge an extra $300 for every container travelling from Europe to North America. Maersk said that it is no longer able to sustain rate levels due to increasing cost pressures.

Hapag-Lloyd has also announced plans to follow suit, raising rates for the North Atlantic and the US West Coast with effect from 1 February 2007.

It said that it would raise rates amounting to $200 for a TEU and $250 for a 40 ft container. “Freight rates have come under pressure in recent months with the entry of new players into the North Atlantic market. Moreover, costs, particularly for charters, bunkering and additional security measures, have risen,” says Hapag-Lloyd.

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