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UASC to hike westbound freight rates from India

United Arab Shipping Company will seek a general rate increase on the westbound trade from India to Europe and the Mediterranean.

UASC to hike westbound freight rates from India
30 December 2010 - 23:56

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, JOC reports.

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.

UASC’s move comes just as Maersk Line announced two GRIs on the sametrade lane. The Danish carrier plans to boost rates by $200 per TEUand $400 per TEU, effective Feb. 1, followed by another increase of $250 and $500, starting March 1.

In related news, Hapag-Lloyd said Wednesday 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.

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