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Logistics

Container freight rate to Europe to rise from July 1

6/27/2009 2:16:00 PM

Chennai, June (EPC News): Container freight rate to Europe from India will increase by 75-80% from July 1 following a ‘rate restoration’ programme announced by various shipping lines.

The increase will range between $250 and $300/TEU (twenty-foot equivalent unit). Maersk Line, world’s largest container shipping company, will increase its freight rate from India to Europe by $250/TEU (twenty-foot equivalent unit) and $500/FEU (forty-foot equivalent unit). The increase will take effect from July 1 and will be valid till the end of August.

Thereafter, the rates will be reduced by $100/TEU and $200/FEU. The increase is for all cargo in the Asia-to-Europe trade. Rate increases are necessary to continue to operate our services with the high level of reliability, it said. Similarly, Hapag Lloyd has announced that it will increase the rate to Europe by $300/TEU from July 15.