Maersk to restore rates in the Europe to Oceania trade

Maersk Line announced that a rate restoration will be implemented from October 1, 2008 on services from Europe (including Scandinavia, the Baltic Sea, North and Central Europe, United Kingdom and Ireland, the Mediterranean, North Africa and the Black Sea) to Australia and New Zealand.

The rate restoration will be a minimum of EUR 75 per TEU (Twenty-foot Equivalent Unit) and will apply to all shipments.

The rates from Europe to Australia & New Zealand have fallen significantly in the last two years, resulting in current levels being about USD 350 per FEU (Forty-Foot Equivalent Unit) less than 2006.

Over the same period, operating costs have increased in excess of 15%. A program to restore rates is required to ensure the route can support longer-term development.<Korea Shipping Gazette>