Mediterranean Shipping Co. plans to raise rates in two stages on the eastbound trade from the U.S. to the ports of Poti and Batumi in Georgia on the Black Sea.
The Geneva-based carrier said it will implement a general rate increase of $150 per 20-foot equivalent unit on that trade on Sept. 1 and a second increase in the same amount on Oct. 1.
Trade with Georgia has grown at a steady pace in recent years, enough that carriers have been able to maintain stable freight rates.
The trade is growing fast enough that APM Terminals acquired an 80 percent stake in the container terminal at the Port of Poti last year and is investing $100 million to expand its facilities over a five-year period.
The Journal of Commerce Online
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