Ocean carriers on routes out of India are raising rates as demand picks up.
Hapag-Lloyd will seek a general rate increase on the trade from the Indian subcontinent to Australia. Effective June 15, the planned increase will be $250 per 20-foot equivalent unit. The GRI will apply to all cargo moving from India, Pakistan, Bangladesh and Sri Lanka to destinations in Australia.
In related news, United Arab Shipping Company will increase rates on the westbound trades from India to Europe and the Mediterranean. Rates on the route will go up by $200 per TEU as of May 15, UASC India said.
UASC’s move follows similar GRI announcements by several leading operators covering the same trade lane, including CMA CGM, Hapag-Lloyd, Zim Integrated Shipping Services, Mediterranean Shipping Company and the Shipping Corporation of India.
Maersk Line, the largest carrier to and from India, also plans to boost rates for westbound shipments moving on its services from India to ports in North Europe and the Mediterranean. The proposed increases will be $200 per dry TEU and $400 per dry FEU, effective May 17.
The Journal of Commerce Online
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