UASC to Hike Westbound Freight Rates from India

12/30/2010 10:03:27 AM

United Arab Shipping Company will seek a general rate increase on the westbound trade from India to Europe and the Mediterranean, as part of a new rate restoration program.   Effective Jan. 15, 2011, the planned increase will be $150 per 20-foot equivalent unit.   The Middle East-based carrier will also increase rates on cargo moving from the Arabian Gulf and Red Sea region to Europe and the Mediterranean. Starting Feb. 1, the proposed GRI on this route will be $150 per TEU.   The increases will apply to both dry and reefer cargo.   In related news, Hapag-Lloyd said it will apply a new rate increase on all cargo shipped from East Asia to Latin America. Effective Jan. 15, the increase will be $200 per TEU.   The Journal of Commerce Online

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