Freight rates on containerized shipments from India to ports in West Africa will go up in May following general rate increase announcements by two major ocean carriers.
French carrier CMA CGM said it will impose a rate increase of $150 per 20-foot-equivalent unit, starting May 1.
Maersk Line will push its rates up by $100 per TEU and $150 per FEU, effective May 15.
“While we are continuously endeavoring toward serving customers to the best of our capabilities, current rates are proving to be difficult to sustain, especially in the prevailing market scenario,” Maersk India said.
The rate restoration move follows similar GRI notices the two carriers issued on India-West Africa trade routes as of April 1.