Topic “freight rates” — Exporter Magazine

Hapag-Lloyd will implement a general rate increase for cargo moving on its services from the Indian Subcontinent and Southeast Asia to New Zealand. Effective May 1, the planned increase will be US$300 (NZ$421) per 20-foot equivalent unit. AP MOLLER-Maersk CEO Nils Andersen has been quoted as saying the recent recovery in container shipping is simply a result of an inventory swing, and rates need to be higher before carriers can commit to capacity expansion. Amid last year’s slump, lines mothballed more than 500 ships worldwide to pare capacity. They also began operating vessels at slower speeds, which cuts fuel usage and reduces the total amount of cargo each ship can haul per month. Neptune Orient Lines Ltd (NOL), owner of Southeast Asia’s largest container line, plans to boost capacity about 7% this year as a rebounding global economy revives trade and freight rates. Exporters are reporting difficulty securing container space, particularly in Hawkes Bay ( Port of Napier ), Christchurch ( Port of Lyttelton ) and Otago (Port Otago), according to Export NZ. AP Moeller, the Copenhagen-based global shipping line, reported an annual loss of 7.0 billion kroner (USD$1.3 billion), citing a drop in global shipments of goods amid the economic crisis.