MOL announced the implementation of a general rate restoration program on the Asia-Europe trade which it says is aimed at maintaining high service levels during the current economic climate.
“While increased freight rates are never very popular,” said MOL, “the current downward trend is completely unsustainable and MOL is confident customers will recognize the need to maintain stability and viability in their supply chain operations over the long term.”
MOL, which operates 874 vessels, noted it had already significantly cut capacity from its global liner services, including the Asia Europe trade, to help reduce the imbalance between supply and demand.
For all cargo moving under MOL bill of lading on the Asia Europe route, the implementation of the rate restoration program will begin on 1 April 2009 as follows:
ASIA – EUROPE WESTBOUND
| Effective date of rate restoration | Amount in US Dollar per TEU |
| April 1st 2009 | 300 |
| June 1st 2009 | 300 |
| August 1st 2009 | 300 |
EUROPE – ASIA EASTBOUND
| Effective date of rate restoration | Amount in US Dollar per TEU |
| April 1st 2009 | 200 |
| September 1st 2009 | 200 |
