Wednesday, September 26, 2012

Top Story

Maersk Line to hike reefer rates by 30 percent in 2013

Maersk Line intends to hike rates on refrigerated containers by 30 percent, said Chief Executive Soren Skou at the Cool Logistics shipping conference in Antwerp on Tuesday.

Maersk Line will raise its rates for refrigerated containers, or reefers, by $1,500 per-FEU effective Jan. 1, according to material provided to Reuters.

Skou told conference attendees that for seven years Maersk's reefer rates have not kept up with inflation and over the past 18 months they have trailed increasing bunker fuel costs.

Skou said shipping industry profitability needed to rise and "the overall market outlook is very bleak," according to presentation material. He added that he knew the necessary decision would have a significant impact in the short term on markets and Maersk Line clients.

For more of the Reuters story: reuters.com

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