Maersk increasing rates in Med-to-North America, Guam trade

Maersk Line will Oct. 1 implement a general rate increase of $400 per TEU and $600 per FEU on dry and reefer cargo moving in the westbound Mediterranean to North America and Guam trade.

The increase will apply for all cargo under Maersk Line independent tariffs and service contracts as agreed with its customers individually.

"Market developments have caused rate levels to deteriorate to unsustainable levels, while we are facing increased cost pressures. Rates need to be restored to levels where we can address cost increases and continue to offer reliable and efficient services in the trade," the Danish carrier said in a statement.