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APL Explores New Trade Route

With the establishment of a fresh European president, Singapore-based APL is seeking new trade opportunities in the European market. The subsidiary of Neptune Orient Lines has recently started researching original opportunities in the European market to add to its already vast portfolio of services offered to European consumers. Already noted for its reliability and fast transit time, APL seeks to bring this established name to additional European markets in the hopes of stimulating trade in the region and offsetting expenses that plague the Europe-Asia region regarding shipping costs. APL has hopes that these diverse markets will return viability to the company’s oldest operating region. Earlier this year, APL applied a General Rate Increase to the company’s Transatlantic Service in order to balance the rising costs associated with transatlantic shipping. Rising costs along with decrease in freight rates had forced the shipping company to raise the fee on standard dry equipment $500USD above its previous level. Using the same strategy in Europe may not be feasible due to the availability of lower-priced competitors. Such a move could only cripple the company and leave it vulnerable in the region. The alternative of exploring new markets for APL to offset its costs, and… read more »