The planned Asia-Europe general rate increase in March is falling flat with rampant rate cutting jeopardizing plans to raise rates to $4,000/feu.
Maersk was again singled out for its aggressive price cuts, with rate offers below $3,000/feu being offered through the end of March. Despite its much touted 90% reliability target for the new Gemini Cooperation network, Maersk has evidently failed to convince its customers to pay a premium and had to resort to price cuts to fill its ships.
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