Friday, September 4, 2009

Rates Rise on Imports from the East

MOL Announce Prices to Increase from October
Shipping News Feature

ROTTERDAM, HOLLAND – MOL (Mitsui OSK Line) has declared a general rate increase for westbound cargo containers from Asia (including Japan) and the Indian Subcontinent bound for Northern Europe and the Mediterranean. The increase will apply to all commodities and equipment, including reefers, and equates to $250 per TEU.

MOL is one of the largest fleet operators in the world with a multi modal service of 861 vessels, over 9,200 employees and a world wide network of services including weekly shipments Transpacific, Transatlantic and Americas and Asia – European. In July we reported the increasing pressure on all the major lines to revise rates upward after the economic downturn which has seen a significant reduction in global cargo volumes.