APL announces new phase of rate rises in Asia-Europe trade

Singapore, 27 May 2009: Container shipping provider APL today announced its intention to raise freight rates in the Asia-Europe trade. The latest move follows an initiative announced in February 2009.

For the eastbound Europe to Asia leg a per-container rise of US$100 will be placed on scrap commodities such as paper, which will be implemented on 1 June 2009.

In the Westbound Asia to Europe trade lane there will be a rise of US$300 per TEU for all freight to the Mediterranean and North Europe, which will come into effect on 15 June and 1 July 2009, respectively.

APL's Vice President for the Asia-Europe Trade, Detlev Kerber, said: "Despite the relative success of initiatives we implemented earlier this year, rates in the Asia-Europe trade are not even close to sustainable levels. We will be doing everything possible to ensure the latest rises are upheld."

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Paul Barrett
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About APL
APL is a global container shipping business offering more than 60 weekly services with over 500 calls at more than 140 ports worldwide. It combines world-class intermodal operations with leading-edge IT and e-commerce. APL is a unit of Singapore-based Neptune Orient Lines (NOL), a global shipping, logistics and marine terminals company. APL Web site: www.apl.com