MOL announces rate restoration programme

MOL has already significantly cut capacity from its global liner services, including the Asia – Europe trade, to help reduce the imbalance between supply and demand.

To maintain high service levels during the current economic climate, the shipping line is to introduce the following rates, applicable for all cargo moving under MOL bill of lading, from 1 April, 1 June and 1 August 2009: Asia – Europe (Westbound) US$300 per teu and from 1 April and 1 September 2009 for Europe – Asia (Eastbound) US$200 per teu.

In a statement, the company said, “While increased freight rates are never very popular the current downward trend is completely unsustainable and MOL is confident customers will recognise the need to maintain stability and viability in their supply chain operations over the long term”.