Maersk Set To Increase Asia Rates From End Of The Month

Maersk Line will be introducing a rate increase for container traffic from Asia to Europe, which will be effective for shipments on or after 31st July 2023.

Despite the ongoing downturn in demand and the lack of a peak season rush this year, the carrier has decided to go ahead with a significant increase in its ocean freight rates, "to continue offering a broad portfolio of high-quality services" it says.

It has been a disappointing start to the peak season for steamship lines, who are traditionally able to increase rates during this period of high demand. However, the current weak demand for Asian trade into Europe and the US, combined with the introduction of many ultra-large container vessels (ULCVs), has led to flat rate levels this season.

It is unclear at this stage whether any other carriers will try to follow suit, after what has been a financially damaging first and second quarter for most, if not all of them.

Croft Cargo are monitoring the situation, and will notify any customers affected by this rate change in due course. Please do not hesitate to contact us should you require further information.

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