MSC joins others, hikes Asia-Europe rate US$400/TEU from August

GENEVA`s Mediterranean Shipping Co (MSC) has revealed it will raise rates on shipments from the Far East to Europe from August 1.

The "emergency rate restoration" involves an increase of US$400 per TEU on all cargo from China, Hong Kong, Japan, Korea, and south east Asia.

MSC rival Maersk Line has already set a peak season surcharge of $750 to $1,200 per container on shipments from Asia to Europe, while CMA CGM on has announced a suite of rate hikes and surcharge increases out of Asia.