Singapore's APL, the container shipping arm of Neptune Orient Lines (NOL) has announced a rate increase of US$1,500 per FEU on all refrigerated cargo shipments on a global basis effective January 7, according to the Shipping Gazette.
"In our commitment to provide you with reliable and high quality shipping solutions, we continually invest in energy-efficient vessels, state-of-the-art equipment and a skilled workforce," said APL in a notice to trade.
"However, rates are currently at unsustainable levels, and we face the challenge of escalating operational costs, which show no signs of abating," the APL statement said.
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