Mediterranean Shipping Co., the world’s second-largest container shipping carrier by fleet capacity, will raise rates from the United States to the Far East, effective Nov. 1.
In announcing the increase on Friday, the Geneva-based carrier said the increases are necessary to ensure its customers have “sufficient availability” of equipment and capacity during the peak season.
The announcement came as the Transpacific Westbound Stabilization Agreement, the discussion group of 10 carriers in the U.S-to-Asia trade, said it planned to raise rates on targeted exports, based on a commodity-by-commodity review, also on Nov. 1.
MSC, the largest carrier in the U.S. containerized export trade, according to the Journal of Commerce ranking of Top 40 Container Carriers, is not a member of the TWSA.
MSC’s rate increases break down in the following way: For dry containers, port-to-port rates will increase $100 per 20-foot equivalent unit and $200 per 40-foot equivalent unit. Intermodal rates will increase $150 per TEU and $250 per FEU.
For refrigerated shipments, the port-to-port and intermodal increase is $200 per TEU and $300 per FEU.