Container Shipping Firms to Raise Freight Rates on Asia-Europe Routes

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

26 Feb 2010

With cargo loading rates reaching as high as 100% and 110%, Taiwan`s leading container shipping firms, including Evergreen Marine Transport Corp. and Yangming Marine Transport Corp., have recently announced raising the freight rates on the Asia-Europe routes beginning March 1. Evergreen and Yangming raised the freight rates on the Asia-Europe routes by between US$275 and US$300 per TEU (twenty-foot-equivalent unit) to reach the breakeven point of US$2,000 per TEU, making them meet the operating breakeven point in the first quarter of this year as earlier anticipated.
A shipping industry analyst said domestic shipping industry has come out of the shade of the global financial crisis and will see recovery this year.
After breaking even on the Asia-Europe routes, domestic container shipping firms will vie for the same situation for the Asia-America routes in the second half of this year.

Source: CENS