APL to levy intra-Asia rate increase of US$100/TEU from March 1

SINGAPORE's APL has announced a general rate increase of US$100 per TEU, $200 per FEU from March 1 in the intra-Asia trade, specifically from Far East to India and Pakistan.

APL said intra-Asia operating conditions in the trade remained challenging, with "unsustainably low" rates. "The rate increases are essential for APL to sustain its comprehensive service offering in the trade and to ensure the high level of reliability that customers demand," said a company statement.

APL, a unit of Singapore's Neptune Orient Lines (NOL), offers 60 weekly services with 500 calls at 140 ports.

(Source: www.schednet.com)