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At a time when the Chinese Government has expressed resentment over the unilateral and arbitrary imposition of surcharges by the foreign shipping lines, Maersk, the world's largest container operator, has decided to slap a bunker surcharge ranging between $261 and $256 per TEU on containers coming from Europe and Baltic Sea Region (except Israel) to Mainland China and Hong Kong, with effect from May 1.

Maersk reported negative results in 2006, its container operation having suffered a loss of about $568 million during the year and the company attributed it to several factors such as high bunker costs and worsening trade imbalance making it difficult to recover round trip costs.

Also, there were difficulties in implementing IT systems simultaneously with P&O Nedlloyd integration. Meanwhile, China Cosco Holdings, a member of Cosco Group and provider of container shipping and logistics services, reported more than 63 per cent dip in profit at $262.84 million in 2006.

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