United Arab Shipping is joining other major ocean carriers in seeking a second general rate increase this year on the troubled Asia-Europe trade lanes.
UASC, which began charging an additional $775 per 20-foot container from Asia to North Europe and the Mediterranean March 1, plans to apply its second GRI April 1. The planned increase on dry and refrigerated cargo will be $400 per 20-foot equivalent unit.
The Middle East-based carrier said “current rate levels are unsustainable and cannot cover increased operating cost.”
Other GRIs on Asia-Europe trades slated for April 1 include a $400-per-TEU hike by Maersk Line and Mediterranean Shipping, and a $475-per-TEU increase by Zim Integrated Shipping Services.
Separately, UASC said it will implement a “fuel compensation surcharge” on Asia-North Europe-Mediterranean trades to cover rising bunker costs. The proposed surcharge, starting April 15, will be $90 per 20-foot dry container and $95 per 20-foot reefer container.