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APL said it plans to hike refrigerated container rates globally by $1,500 on Jan. 7.
"Rates are currently at
unsustainable levels, and we face the challenge of escalating
operational costs, which show no signs of abating," the Singapore-based carrier said.
APL's action follows similar decisions to hike reefer rates by other carriers, including Maersk.
The second quarter financial results of ocean carriers NYK, MOL and "K" Line reflected a weak Asia-Europe market and strong supply pressure.
Members of the ocean carrier alliance announced they will add calls to Gothenburg and Antwerp to their Loop 7 service between Asia and Europe.
The Federal Maritime Commission found the Northwest Seaport Alliance is not likely to reduce competition or result in an unreasonable increase in cost or reduction in service.
The Dubai-based port terminal operator was fighting a proposed 750 percent rent increase at Port of Melbourne.
The Norwegian ocean carrier reached an agreement with the Competition Commission of South Africa after admitting to price fixing, market allocation and collusive tendering.
Trade ministers left Hawaii on Friday without concluding a TPP deal because several countries held out to protect specific domestic industries like pharmaceuticals, automobiles and agriculture from competition.