Ocean Carriers Set India Rate Hikes

6/7/2011 9:53:58 AM

Major ocean carriers operating to and from India plan to raise rates on key trade lanes, starting in early July.   Zim Integrated Shipping Services will apply a general rate increase for all shipments from India to ports in North Europe, the Mediterranean and the Black Sea region. Effective July 1, the increase will be $275 per 20-foot equivalent unit.   The increase follows a series of GRIs the Israel-based container ship operator has implemented this year on the same route, including a $250-per-TEU increase as of May 15.   Mediterranean Shipping Co. will boost rates on the westbound trades from Asia and the Indian subcontinent to Europe and the Mediterranean with a GRI of $250 per TEU, also effective July 1. It is the third such increase MSC has announced this year in the Asia-Europe trade. It applied increases of $200 per TEU as of Feb. 1 and March 1.   Kuwait-based United Arab Shipping will seek a general rate increase for all dry and reefer cargoes shipped from India to the east coast of South America. UASC’s increase will be $400 per TEU, slated to take effect July 1.   The Journal of Commerce Online

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