JOC Staff | Feb 07, 2012 9:30AM EST
Zim Integrated Shipping Services will raise its rates on westbound trade from the Indian subcontinent to Europe by $750 per 20-foot container, starting March 1.
The Israel-based container line joins other major ocean carriers in seeking rate restoration on the depressed Asia-Europe trade lanes. The increase will apply to all cargo moving from any port in the subcontinent to North Europe, the Mediterranean (including Israel) and the Black Sea region.
“This rate increase is necessary in order to maintain our current levels of service and high reliability,” Zim said. The subcontinent region includes India, Pakistan, Sri Lanka and Bangladesh.
Other carriers that plan to apply similar increases effective March 1 include Maersk Line, Hapag-Lloyd, OOCL, Mediterranean Shipping, MOL, Hanjin and United Arab Shipping.
