MSC Hikes Eastbound Trans-Atlantic Rates

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

26 Feb 2010

Mediterranean Shipping Company announced Thursday a general rate increase on exports from North America to Europe and the Mediterranean as of April 1. As on all the major east-west trade lanes, carriers have cut capacity on the trans-Atlantic enough since last fall to sustain the rate increases they have been putting into effect for the last several months.
The rates on eastbound shipments from the United States to Northern Europe and the UK, including Scandinavia and the Baltic region, will increase by $150 per 20-foot container and $250 per 40-foot container. The rate on U.S. exports to the western Mediterranean will increase by $150 per TEU and $250 per FEU.
MSC said the rates from Canada to Northern Europe and the UK, including Scandinavia and the Baltic region, will increase by $200 per TEU and $350 per FEU. From Canada to the West Mediterranean rates will increase by $200 per TEU and $350 per FEU.
The ocean carrier will increase rates from Mexico to Northern Europe and the UK including Scandinavia and the Baltic region, by $150 per TEU and $250 per FEU. Rates from Mexico to the western Mediterranean will increase by $150 per TEU and $250 per FEU.
The Geneva-based carrier said the increases are necessary to sustain its services and “to advance freight rates toward a sustainable level.”

Source: Journal of Commerce