APL joins Asia/Europe rate hike queue

APL joins Asia/Europe rate hike queue APL said Thursday it will implement a rate increase in the Asia/Europe trade, following the lead of other leading liner carriers who are doing the same.
   Eastbound containers, from Europe to Asia, will see a $175-per-container increase for paper and scrap commodities and $100 per container for all other commodities, effective March 15.
   Westbound, from Asia to Europe, APL will seek a $250-per-TEU increase effective April 1.
   “Freight rates in this trade have been falling drastically for more than a year,” said Detlev Kerber, APL vice president Asia/Europe trade. “We are meanwhile facing a situation where in many cases not even variable transportation costs are covered by current freight rates. Our intention is to restore freight rates in the Asia/Europe trade to a sustainable level.”