ASIA/NORTH EUROPE CARRIERS TO INCREASE RATES
The shipping lines of the Far Eastern Freight Conference’s Asia Westbound Rate Agreement said that they plan to increase rates from Asia to North Europe twice next year, in April and in August.
The conference announced that it wanted to give early advice of its plan to raise rates by $150 per TEU, effective April 1, 2001, and then again by $250 per TEU, with effect from August 1, 2001.
The FEFC carriers, who increased westbound freight rates last August by $350 per TEU, said that the 2001 increases are part of the conference’s business plan for next year.
The carriers of the FEFC are APL, CMA CGM, Hapag-Lloyd Container Line, Hyundai Merchant Marine, “K” Line, Maersk Sealand, Malaysia International Shipping Corp., Mitsui O.S.K. Lines, National Shipping Co. of Saudi Arabia, NYK, Orient Overseas Container Line, P&O Nedlloyd, Senator Lines and Yangming Marine Transport.
The FEFC shipping lines carry about 80 percent of the Asia/northern Europe container trade.