Following Maersk Line’s announcement of raising reefer rates, other lines have begun to take similar action. World number-two line Mediterranean Shipping Co (MSC) have informed customers of plans to impose a US$1,500 per reefer box increase from the beginning of the year for cargo moving from Europe to Asia.
MSC’s reefer rate hikes, announced just before Christmas, come after Maersk took the lead in September, when CEO Søren Skou shocked customers by announcing a $1,500 increase in base rates for 40ft reefer containers.
Skou said then that the 30% global increase would fund necessary investment: “During the last seven years, our reefer rates have not even covered the rate of inflation.”
A similar charge will cover reefer cargo shipped from Europe to the Middle East.
Rates for dry cargo are set to go up by a recommended $100 per 20ft box and $200 per 40ft box for Europe to Asia cargo from mid-February and there are plans for further upward adjustments in March.
Other major container lines are raising their reefer rates, with APL announcing a $1,500 global increase from January 7 and members of the westbound Transpacific Stabilisation Agreement pushing up prices on the US-Asia route from yesterday.
MSC and CMA CGM have advised their clients of a planned $350 per teu increase for Asia-Europe cargo from January 10 and NYK Line has announced a peak-season surcharge of $285 per teu to start on January 13.