Zim Hikes Rates From India Subcontinent to Europe

Jan.10--Zim Integrated Shipping Services imposed a general rate increase on westbound cargo from the Indian Subcontinent to North Europe and the Mediterranean, starting Feb. 1.

The Israel-based container line joins other major ocean carriers in seeking rate restoration on Asia-Europe-Mediterranean trade lanes. The planned GRI will be $200 per 20-foot equivalent unit.

¡°This rate increase is necessary in order to maintain our current levels of service and high reliability,¡± Zim said.

The move follows a $100 per-TEU GRI notice by United Arab Shipping, effective Jan. 15; a $200 per-TEU increase by Mediterranean Shipping, effective Jan. 23; and a $200 per-TEU increase by Hapag-Lloyd, effective Feb. 1, on the same trade lanes.