CMA CGM Hikes India-Europe Rates.
GRI follows similar moves by almost all major ocean carriers CMA CGM will seek a general rate increase on all westbound cargo on the EPIC Service from India and Pakistan to Europe and the Mediterranean, starting March 1. The proposed increase will be $250 per 20-foot dry container, and $500 per 40-foot dry and high cube container.
Separately, the carrier will levy a surcharge of $150 per dry TEU on overweight containers of more than 23 tons (including the weight of the container).
CMA CGM India said the GRI is necessary to offer reliable and efficient services, and applies to all cargo and commodities moving westbound on the route.
The move by the French liner follows similar GRI announcements by almost all major carriers operating on the Indian Subcontinent-Europe-Mediterranean trade lanes.
Mediterranean Shipping Co. will boost rates by $200 per TEU as of March 1, after it implemented a similar hike earlier this month. Effective Feb. 4, state-owned Shipping Corporation of India increased rates by $250 per TEU. The February increases announced by others were: $300 per TEU by Maersk Line; $200 per TEU by Hapag-Lloyd; and $250 per TEU by Evergreen Line.
Other operators that plan to apply further increases in March include United Arab Shipping, Zim Integrated Shipping Services, ?K? Line and Cosco Container Lines.