India to Europe Container Rates on the Rise
10 January 2008Shipping goods from India to Europe will be getting substantially more costly, rates are set to rise by $200 per 20-foot equivalent unit, or TEU, and $400 per 40-foot equivalent unit, or FEU, from 1 February, it currently costs about $1,400 for shipping a TEU from India to any one of the European ports.
A group of 19 container shipping firms, known as the India, Pakistan, Bangladesh, Ceylon (IPBC) Conference, that operates services between Europe and the Indian subcontinent, have announced their decision to implement the rate hike, which will remain valid at least until 31 March. …
The IPBC conference members include ANL, CMA CGM, Hamburg Sud, Hapag-Lloyd AG, K-Line, MacAndrews and Co. Ltd, Maersk Line, MISC Berhad, CSAV Norasia Liner Services, Rickmers, Safmarine Container Lines NV, Shipping Corp. of India Ltd (SCI), United Arab Shipping Co., Yang Ming Line and Zim Integrated Shipping Services Ltd.
Link: Livemint
Posted in International Shipping, Shipping News
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