Zim Hikes India-Europe Rates

3/19/2011 9:58:40 AM

Zim Integrated Shipping Services will seek a general rate increase on the westbound trades from India to Europe and the Mediterranean, the second GRI this year.   Starting April 1, the planned increase will be $250 per 20-foot equivalent unit.   The GRI will apply to all cargo moving from India to ports in North Europe, the Mediterranean, Israel and the Black Sea region.   The Israel-based carrier earlier raised rates on the same route with a GRI of $200 per TEU that took effect as of Feb. 1.   Zim's move follows similar GRI announcements by several major carriers covering the Indian subcontinent-Europe-Mediterranean trade lanes.   Recent increase announcements included: $200 per TEU by Mediterranean Shipping Company as of March 1; $250 per TEU by Maersk Line as of March 1; and $150 per TEU by CMA CGM as of March 5.   The Journal of Commerce Online

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