Maersk ups south Asia/Mideast to Europe rate US$300/TEU Feb 1

DENMARK's Maersk Line has announced it will increase rates on westbound cargo from south Asia and the Mideast to north Europe and the Mediterranean US$300 per TEU and $600 per FEU from February 1.

"The trading conditions for the carriers operating in these markets are still subject to unacceptable rate levels and the situation is unsustainable in the longer term," said a statement from the company.

(Source: www.schednet.com)