Bangkok Shipowners and Agent Association

Bangkok Shipowners and Agents Association
To consult and advise members on shipping problems and offer assistance.
Home News World Shipping News UASC joins other lines, increases Asia-Europe rate US$505/TEU July 1
UASC joins other lines, increases Asia-Europe rate US$505/TEU July 1 PDF Print E-mail
Tuesday, 12 June 2012 00:00
Shpg Gazette 12/6/12

THE United Arab Shipping Company (UASC) will increase rates by US$505 per TEU and $1,010 per FEU on all cargo from Asia to north Europe and the Mediterranean from July 1.

The move follows a similar announcement by Hong Kong's Orient Overseas Container Line (OOCL) to increase rates $400 per TEU on cargo from the Far East, the Indian subcontinent and the Middle East to north Europe, the Mediterranean and Black Sea.

Said OOCL: "The ocean freight rate for the Asia-Europe trade has been below the required level to cover basic operating costs for a prolonged period."

Other announced rate increases on Asia-Europe routes for July 1 include a $475 per TEU hike by China Shipping and a $530 per TEU hike from Cosco.