Peter T. Leach, Senior Editor | Feb 21, 2012 9:06AM EST
Mediterranean Shipping announced it will increase all freight rates on its eastbound service from Asia to the U.S. and Canada on March 15.
The second-largest container line became the first major carrier to boost rates in that trade in the wake of the Feb. 9 rate increase recommendation by the Transpacific Stabilization Agreement.
MSC said the general rate increase “is in response to the ever increasing bunker price and in order to further recover losses made in 2011 and is therefore of utmost importance to us.”
MSC said the GRI would be $240 per 20-foot equivalent container unit, $300 per 40-foot equivalent unit and $338 per high-cube container. MSC’s GRI will apply to all cargo shipped from all ports of origin in Asia and the Far East to all U.S. and Canadian destinations.
The rate hikes are in line with the $300 per FEU recommended for that date by the Transpacific Stabilization Agreement.
-- Contact Peter T. Leach at pleach@joc.com. Follow him on Twitter @petertleach.
