Increase in freight rates by NOL

ASIA / EUROPE - The world's seventh largest shipping company, Neptune Orient Lines has confirmed that its container arm will raise freight rates on its Asia-Europe routes starting beginning June.

Detlev Kerber, APL's vice-president for Asia-Europe trade comments: "Despite the relative success of initiatives we implemented earlier this year, rates in the Asia-Europe trade are not even close to sustainable levels. We will be doing everything possible to ensure the latest rises are upheld."

Kerber confirmed that APL will increase eastbound to Asia route by $100 per container; with westbound services from Asia to Europe experiencing a rise of $300 per twenty-foot container, to include freight routes to the Mediterranean and North Europe.

http://www.nol.com.sg