Mediterranean Shipping to raise eastbound trans-pacific rates by US$240/TEU, US$300/FEU, effective March 15

LOS ANGELES , February 21, 2012 () – Mediterranean Shipping says it will raise shipping rates for all its eastbound services from ports in Asia to destinations in the U.S. and Canada, effective March 15, The Journal of Commerce reported Feb. 21.

The increase is the first by a major container line following the Feb. 9 recommendation by the Transpacific Stabilization Agreement.

The company attributed the hike to higher bunker fuel prices and the need to recover losses from 2011.

Rates will increase by US$240 per twenty-foot equivalent unit and US$300 per forty-foot equivalent unit.

The primary source of this article is The Journal of Commerce, Newark, New Jersey, Feb. 21, 2012.

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