AWRA REAFFIRMS RATE INCREASE
The Asia Westbound Rate Agreement on Wednesday reaffirmed its plans to implement a planned rate increase in the trade from Asia to Europe, effective August 1.
The discussion group will impose a minimum $250-per-TEU 'rate restoration' in the trade.
AWRA members are APL Co. Pte. Ltd., CMA CGM S.A., Senator Lines GmbH, Hapag-Lloyd Container Linie GmbH, Hyundai Merchant Marine Co. Ltd., Kawasaki Kisen Kaisha Ltd., Maersk Sealand, Mayaysia International Shipping Corp., Mitsui O.S.K. Lines Ltd., National Shipping Co. of Saudi Arabia, Nippon Yusen Kaisha, Orient Overseas Container Line, P&O Nedlloyd Ltd., Yangming Marine Transport Corp.