MSC Hikes India-Europe Rates

1/12/2011 10:08:46 AM

Mediterranean Shipping Company announced a general rate increase on the westbound trades from India to Europe and the Mediterranean, starting Feb. 1.   The proposed increase on all cargo from India to North Europe, the United Kingdom, East/West Mediterranean and Black Sea ports will be $200 per 20-foot equivalent unit.   The Geneva-based carrier's move follows similar GRI announcements by almost all major carriers operating on the Indian subcontinent-Europe-Mediterranean trade lanes.   French liner CMA CGM will boost rates on the route by $250 per TEU and $500 per 40-foot dry and high cube container, also as of Feb. 1., after it applied an increase of $150 per TEU as of Nov. 1.   Other recent increase announcements included: $150 per TEU by United Arab Shipping Company as of Jan. 15; $250 per TEU by state-owned Shipping Corporation of India as of Feb. 1; $250 per TEU by Maersk Line as of Feb. 1; and $150 per TEU by Hapag-Lloyd as of Feb. 1.   The Journal of Commerce Online

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