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MAERSK plans 49 per cent rate increased to US$1,900 per FEU on the Asia-North Europe cargo from the end of July, reports New York's Journal of Commerce.
The carrier told customers in an advisory that "to continue offering a broad portfolio of high-quality services," it is raising its [FAK -freight all kinds] rate from Asia to the Northern European hubs of Rotterdam, Gdansk and Felixstowe to $1,900 per FEU, effective July 31.
This compares $1,276 per FEU spot rate this week, according to rate benchmarking platform Xeneta, while pricing from North Asia to the United Kingdom was at $1,050 per FEU, according to Platts.Peter Sand, chief shipping analyst at Xeneta, said Maersk's July 31 increase was targeting traditional peak season imports by European shippers and that more carriers would likely follow with rate hikes of their own.
"Maersk is pushing to see if someone takes the bait," he said, adding that he expected a lacklustre peak season. "This is a way for Maersk to say that we are back at where we were some years ago where carriers announce general rate increases [GRIs] that are in the $1,000 [range] for key trades. One takes the lead; the rest will tag along," he said.
Rising peak season demand should be exerting upward pressure on rates this time of year. But rates are undermined by excess capacity and weak demand from European importers.
Alan Murphy, CEO of Sea-Intelligence Maritime Analysis, agreed there was no sign yet of seasonal demand from European importers.
"We have now entered the month of July and peak season should be getting under way, but there is as of yet scant evidence of this happening," Mr Murphy wrote in the firm's latest Sunday Spotlight newsletter.
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