UASC to Hike India-Europe Trade Rates

12/26/2011 8:44:40 AM

United Arab Shipping Company will seek a general rate increase on westbound trade from the Indian Subcontinent, Red Sea and the Arabian Gulf to North Europe and the Mediterranean, starting Jan. 15. The planned increase on dry and refrigerated cargo will be $100 per 20-foot equivalent unit. The Middle East-based carrier earlier hiked its rates on the same route with a peak-season surcharge of $200 per TEU, which came into effect Dec. 16. UASC's move follows a $200 per-TEU GRI announcement by German carrier Hapag-Lloyd on the Indian Subcontinent-Europe-Mediterranean trade lanes, effective Feb. 1. The Journal of Commerce Online

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