Hard-pressed COSCO attempts rate hike

Recently, Hapag-Lloyd announced the year’s first rate hike on Asia-Europe, and now COSCO is also trying to force rates up from mid-March onward despite miserable market prospects.

Photo: Port of Gothenburg

COSCO is now following in the footsteps of the first announced rate hike this year from Hapag-Lloyd. The Chinese company badly needs to raise rates on Asia-Europe following a deficit in the magnitude of USD 1.3 billion and USD 1.7 billion in 2011.

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