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i-maritime News Service

Maersk to hike rates on Far East, India, Pakistan routes - 2012-05-07

Starting May 15, Maersk Line, the world's largest container line, will slap a general rate increase on the services between Far East and India and Pakistan.

The extent of increases will be $150 for a TEU (twenty-foot equivalent units) and $300/ FEU (forty-foot equivalent units) and high-cube 45-ft containers, according to shipping industry sources. Also, effective May 15, rates for services from the US to the Indian subcontinent (India, Pakistan and Bangladesh) will increase $150 for a container, irrespective of size and capacity. This is in continuation of a series of freight increases announced by the Danish shipping giant and followed by several other shipping lines on several trade lanes in past few months “as prevailing rates are proving difficult to sustain”.

Meanwhile, CMA CGM, France's number one and the world number three container line, has announced rate increases of $200/TEU and $400/FEU on services from West Asia to the Indian sub-continent.Between Latin America and India, the extent of increase will be $1,000/TEU. The revised rates are to come into force from May 5, it is learnt.

From May 1, the line effected “emergency rate restoration” of $385/TEU on shipments from Asia to Europe including North Europe, Mediterranean and Black Sea ports. Also from May 1, the rates on shipments between India and West Africa increased $150/TEU, the sources add.

Source : Hindu Business Line