Maersk Line rate restoration in Europe to Oceania trade

Maersk Line will put Rate Restoration into effect from October 1, 2008 on services from Europe (including Scandinavia, the Baltic Sea, North and Central Europe, the 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 apply for all shipments.

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

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