UASC Hikes India-Europe Rates

4/26/2011 10:38:42 AM

United Arab Shipping Company announced a general rate increase on the westbound trades from India to Europe and the Mediterranean, the second GRI this year.   Effective June 1, the planned increase will be $200 per 20-foot equivalent unit.   The GRI will apply to all cargo moving from India to North Europe, the United Kingdom, East and West Mediterranean and Black Sea ports.   The Middle East carrier earlier raised rates on the route with a GRI of $150 per TEU that took effect Jan. 15.   UASC's move follows similar GRI announcements by several major carriers operating on 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; $150 per TEU by CMA CGM as of March 5; and $250 per TEU by Zim Integrated Shipping Services as of April 1.   The Journal of Commerce Online

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