MOL to hike Asia-US rates

MOL will increase ocean freight rates for all cargo originating in Asia and imported into the United States, effective January 15, 2010.

The move by the Japanese liner follows an announcement made major ocean carriers recently that they will seek compensation for rising operating costs as the container transport industry begins a modest recovery. The Transpacific Stabilisation Agreement, which includes APL, China Shipping, CMA CGM, Cosco, Evergreen, Hanjin, Hapag-Lloyd, Hyundai, 'K' Line, MSC, NYK, OOCL, Yang Ming, and Zim, announced a two-step phased increase. CMA CGM announced its rate hike separately.

The general rate increase for MOL will be $320 per TEU, $400 per FEU, $450 per 40-foot high cube container, and $505 per 45-foot standard containers from Asia, the Middle East, Australia and New Zealand to all destinations in the United States and Mexico (excluding Puerto Rico and Virgin Islands).

Source: Maritime Gateway