Shipping Corporation of India has announced a freight hike of $200 for a TEU bound from India to Europe to meet the soaring operational costs, according to industry sources.
The increase, which comes into effect immediately, will apply to all shipments bound for North Europe, the UK, the Mediterranean and the Black Sea region, the sources add.
It may be recalled that all major container lines running services on the route have announced freight increases from July 1.
For example, Maersk is charging $250 more for a TEU. Several other carriers have announced various rate increases effective July on the Asia-Europe route, also covering the Indian sub-continent.
Hapag Lloyd, APL and Mediterranean Shipping Company have raised rates by $500, Hanjin and OOCL by $400 and UASC by $550 for a TEU.
Even Chinese lines are not lagging behind, proposing freight increase of $450-530 for a TEU, it is learnt.
Meanwhile, the Asia-Europe spot rates have bounced back, soaring 21.9 per cent to $1,888 for a TEU last week, say the sources quoting Shanghai Containerised Freight Index.
The Asia-Mediterranean spot rates too jumped 12.3 per cent last week to $1,892/TEU, the sources add.