Feb
20
Increases of between $300 to $800 per teu on the Asia-European sea freight route represent the largest increase since 2008. Spot rate increases, if successfully implemented on March 1st are set to increase from a current level of $700 per teu to around $1,000-$1,500 per teu. This dramatic increase of spot rates is in response to significant losses in 2011 due to overcapacity on the Asia-Europe freight lane.
Shippers are expected to enthusiastically resist these new rate increases as it greatly increases their cost base. Maersk is removing 9% of vessels from the Asia-Europe trade lane due to oversupply and has…
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