Carriers say they are determined to push through fourth quarter rate increases
Carriers are determined to push through General Rate Increases (GRIs) on transatlantic services from the start of the next quarter.
Maersk Line, Hong Kong-based OOCL and MSC will all impose new GRIs on transatlantic cargoes from 1 October. Maersk, which posted a half-year profit of US$1.2billion on container activities, said the Atlantic markets had stabilised this year but rates, despite a partial recovery, remained “unsatisfactory”.“Maersk Line is experiencing increased costs as we are working to improve container availability during a period of general equipment shortage, while keeping focus on maintaining our high level of reliability in the broad Maersk Line service portfolio,” the Danish carrier said.
A number of carriers, including Maersk, NYK and MOL, introduced substantial GRIs on Transatlantic trades on 1 July, while German container carrier Hamburg Süd will impose a GRI of US$150/teu and $300/ feu on cargo moving between the US west coast and Canada to Europe from 1 September.
Maersk said volumes on the transatlantic routes increased by 4% year-on-year in the first half of 2010. The latest figures from OOCL, which launched a new transatlantic service earlier this month, reveal that volume growth has been accelerating this year, up almost 6% in the second quarter compared to the first.
However, OOCL’s volumes on the route showed the slowest year-on-year growth out of its main trades, with the carrier increasing handling by 3.9% compared with the first six months of 2010. OOCL’s GRI of $320/teu and $400/feu will apply to both westbound and eastbound services moving between Europe and the US, Canada and Mexico and will apply to all container types.
Maersk’s GRI covers cargo moving in both directions between the USA and Canada and North Europe, the Mediterranean and the Black Sea.
From 1 October, a GRI of $250/teu and $350/feu will be applied in both directions between the US and North Europe, and $250/teu and $350/feu between Canada and North Europe. From 15 October, a GRI of $200/teu will be imposed on cargo moving westbound and eastbound between the US/Canada and the Mediterranean. MSC’s GRI of $100/teu and $200/feu covers all cargo shipped from North Europe, Baltic, Eire and Mediterranean port to Canada and Mexico and US destinations served by Canadian ports.Source:
Mike King, IFW News, 31 August 2010