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Mitsui OSK Line (MOL), the Japanese shipping major, has announced freight increases on all shipments from Far East (including Japan) to the Indian sub-continent, according to shipping industry sources.
The rate increase of $100 for a TEU, to be effective from September 15, will apply to shipments from Far East (except Japan ) to all port in India, Pakistan, Sri Lanka and Bangladesh and an increase of $250/TEU from October 1 on shipments from Japan to all ports in the Indian sub-continent.
It might recalled that Hapag-Lloyd, the German line, had earlier announced similar rate increase – i.e. $100/TEU on all shipments from Far East (except Japan) from September 1.
Hapag-Lloyd has also announced rate increases on all shipments from Canada to India.
Effective October 1, the increases will be $140/TEU and $175/FEU for dry containers and $220/TEU and $275/FEU for reefer containers, the sources add.
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