Maersk Line to raise Americas rates from Sept. 1
The world's largest container shipping company Maersk Line will increase freight rates on its Intra Americas Services from Sept. 1, it said on Monday, helping lift its parent company's shares.
Maersk Line is part of Danish shipping and oil group A.P. Moller-Maersk, whose shares rose 4.5 percent to 37,100 crowns by 1126 GMT, outperforming the Copenhagen blue chip index, which was up 1.1 percent.
'The trading conditions for the carriers operating in these markets are still subject to unacceptable rate levels and the situation is unsustainable in the longer term,' Maersk Line said in a statement.
'These increases are necessary to continue providing a first-class service on this trade, in an environment where the operating costs remain on the rise and current rates are below sustainable levels,' it said.
Maersk Line also said it would introduce a new direct service from India and the Middle East to the west Mediterranean and back, through a slot exchange agreement with United Arab Shipping Co.
Maersk Line is part of Danish shipping and oil group A.P. Moller-Maersk, whose shares rose 4.5 percent to 37,100 crowns by 1126 GMT, outperforming the Copenhagen blue chip index, which was up 1.1 percent.
'The trading conditions for the carriers operating in these markets are still subject to unacceptable rate levels and the situation is unsustainable in the longer term,' Maersk Line said in a statement.
'These increases are necessary to continue providing a first-class service on this trade, in an environment where the operating costs remain on the rise and current rates are below sustainable levels,' it said.
Maersk Line also said it would introduce a new direct service from India and the Middle East to the west Mediterranean and back, through a slot exchange agreement with United Arab Shipping Co.
