Exchange rates were boosting traffic from Europe to Asia, according to Danish shipping group Maersk, which announced yesterday a rate rise as a result.
Maersk said it would increase general commodity rates US$25 per TEU (twenty-foot equivalent unit) on 1 March and 1 April, for a total rise of US$50.
Costs increasing in line with trade demanded the rate rise, the shipper said in a statement. That rise in trade was caused by low European currencies.
“There are now indicators that demand is increasing due to, amongst others, the weak Sterling and Euro,” Maersk said in a statement.
Maersk has cut about 10 per cent of its capacity on the Asia-Europe route in the past six months as trade has declined.
Rates from Asia to Europe have fallen US$250-300 per TEU from about US$1,700 18 months ago, reported the Journal of Commerce Online.
