After a brief gap that has seen some signs of freight rate softening and corrections, container lines actively operating on India-US trades are looking to capitalize on expected peak season cargo movements. MSC seems to lead that rate push. The Geneva-based liner, which has three weekly connections out of West India for the US East Coast, has significantly jacked up peak season surcharges it had earlier planned to apply from 4 July.
The PSS levy has been increased to US$2,000 per container, effective 1 August, instead of U$500 per box that was to come into force on 4 July. In addition, MSC has announced a fresh general rate increase (GRI) on the same trade route. From 11 August, it will start charging a GRI of US$1,500 per container for Indian cargo moving to the US and San Juan.
Hapag-Lloyd will hike India-US rates substantially with a GRI of US$1,600 per TEU and US$2,000 per FEU from 1 August, according to market sources. Other operators offering regular India-US connections are expected to follow suit.
Meanwhile, Container xChange, an equipment marketplace provider, in its latest report noted that southern India ports are facing a shortage of containers because of the disruptions plaguing Sri Lanka’s Colombo Port, a key transshipment hub for the subcontinent region.
