Hike for India-Far East rates

Hike for India-Far East rates

NEW DELHI -- Shipping lines said rates for containers moving from the Far East to the Indian region are increasing by $150 per TEU as of April 1.

The increase applies to containers moving from all Southeast Asia and Far Eastern ports to the Indian ports of Chennai, Kolkata, Haldia, Visakhapatnam, Kochi, and Tuticorin, Bangladesh's Chittagong and Mongla, and Sri Lanka's Colombo.

An increase of $50 per TEU will apply for shipments from these ports to all Southeast Asia and Far East destinations.

The increase comes on the back of other increases on India-Europe routes as the region's container freight rates continue to rise.

The carriers involved in the latest hike are APL, Dongnama Shipping, "K" Line, Pacific International Lines, P&O Nedlloyd, Regional Container Lines, Shipping Corp. of India and Samudera Shipping Line.

Lines earlier announced bunker increases to cover higher fuel costs.

APL said it is imposing a general rate increase, effective April 15, for all cargoes moving between Pakistan and South America by $150 per TEU and $300 per FEU.

-- N. Vasuki Rao