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Maersk Line cuts freight rates on Asia-Europe trade lane

Time：2016-07-22 Browse：163 Author：RISINGSUN
THE world`s largest container shipping company Maersk Line has informed clients on Tuesday that it will set the maximum freight rate from Far East Asia to Europe at US$1,250 per TEU starting August 1, down by $200 from the previous month`s comparable rate.

The set rate, which applies to all kinds of freight, will not necessarily go through as the shipper is often forced to accept far lower rates because there are too many vessels available to ship goods, according to MarineLink.com.

The lower rate comes after Maersk Line and 13 other competitors agreed with EU antitrust regulators to make their pricing practices more transparent.

Last week data from the Shanghai Containerized Freight Index showed rates for transporting containers from ports in Asia to Northern Europe had fallen 17 per cent to $776 per TEU.