APL increases reefer rate US$1,500/FEU globally from January 7

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.

"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.