French carrier CMA CGM will seek a general rate increase on the westbound trades from India to Europe, as part of what it calls a new rate restoration program.
Starting March 5, the planned increase will be $150 per 20-foot equivalent unit.
The GRI will apply to all cargo moving from India to ports in North Europe and the Mediterranean.
CMA CGM’s move follows similar GRI announcements by other major carriers covering the Indian subcontinent-Europe-Mediterranean trade lanes.
State-owned Shipping Corporation of India increased rates on all westbound shipments from India to North Europe, the United Kingdom, the Mediterranean and Black Sea ports by $250 per TEU, effective Feb. 1.
Other Feb. 1 GRIs included: $200 per TEU and $400 per FEU by Maersk Line; and $200 per TEU by Zim Integrated Shipping Services.
Maersk also announced plans to boost rates on the route with another GRI of $250 per TEU and $500 per FEU, starting March 1.
The Journal of Commerce Online
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