Maersk Line will be implementing a general rate increase on the Eastbound Mediterranean trade from the East Coast and Gulf ports of North America to Mediterranean ports.

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

The level of increase will be US$400 for a 20 ft container and $600 for a 40 ft container and will be effective 15 November.

“Market developments have caused rate levels to deteriorate to unsustainable levels, while we are facing increased cost pressures,’’ said a Maersk spokesman. “We expect that the recent capacity reductions in the trade will favourably influence the supply and demand balance. We intend to restore the rates to a level where we can address cost increases and continue to offer reliable and efficient services in the trade.’’