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THE member lines of the Far Eastern Freight Conference have announced rate
rise despite widespread sentiment that the container market is softening
Member lines of the Asia-Europe trade, including independent operator,
Maersk 13 are proposing to increase rates for containers they move between
Asia and Europe as demand grows.
Starting April 1, 20-foot containers that move from Asia excluding Japan to
Europe by the 15-member Far Eastern Freight Conference will increase by $200
each.
The rate increase will be effective until the end of June. The group
accounts for about 70 percent of trade between Asia and Europe.
Notwithstanding the announcement of the increase, it is widely expected that
container rates may fall in 2006 for the first time in five years, as
shipping lines take delivery of new vessels, including several mega-sized
containerships, raising concern capacity will outstrip demand.
The Conference aims to increase rates by $200 for every 20-foot container
carried to Europe from Japan on 12-month contracts.
The Conference also plans to raise rates by $50 per box moved to Asia from
Europe until June 30.
Freight rates on some routes, including between Asia and Europe, have been
under pressure recently as more new ships are put in service.
Member lines of the FEFC include ANL Container Lines Pty Ltd., CMA CGM SA,
Egyptian International Shipping Co., Hapag-Lloyd, Hyundai Merchant Marine
Co., Kawasaki Kisen Kaisha Ltd., MISC Bhd., Mitsui O.S.K. Lines Ltd., Nippon
Yusen K.K., Orient Overseas Container Line, Safmarine and Yang Ming Marine
Transport Corp.
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