State-owned Shipping Corporation of India imposed a general rate increase on cargo shipped from the Indian Subcontinent to North Europe and the Mediterranean.
The proposed increase, starting Jan. 30, will be $200 per 20-foot equivalent unit. The GRI will apply to all westbound cargo destined for ports in North Europe, the United Kingdom, the Mediterranean and Black Sea region.
“The rate restoration is imperative at this point to meet the overall operational costs and to serve the trade efficiently,” SCI said.
Meanwhile, Hamburg Sud announced a rate increase on trades from the India Subcontinent and the Middle East to Europe, South America and the Caribbean. The German carrier’s rate increase on dry and reefer cargo will be $200 per TEU, effective Feb. 1.