Container lines appear determined to continue a program to restore dovish rates on shipments from India to the United States and Canada, even as they continue to face demand problems to fill available vessel capacity.
The India-USA trade is dominated by MSC, CMA CGM and Hapag-Lloyd.
These airlines have now synchronized the implementation date for a $500 per TEU increase after releasing various announcements. This GRI comes into effect on March 29th.
The “General Rate Increase (GRI) from India to the US and San Juan, Puerto Rico, effective March 23, has now been postponed to March 29 handover,” the MSC Agency (India) said in a note to customers.
The airline also said that the GRI is necessary “to maintain the high level of reliability and efficiency of our services and to meet the needs of our customers”.
CMA CGM Agencies (India) said the GRI will apply to Indian cargo shipped to the US East Coast, US Gulf Coast and Canada.
“The Rate Restoration Initiative (RRI) applies to tariff or service contract rates for all cargo moving within that tariff,” the French liner said.
Hapag-Lloyd is targeting a GRI of US$450 per 20ft container and US$500 per 40ft box.
The German carrier said: “A general rate increase (GRI)/general rate adjustment (GRA) from the Middle East to North America for cargo carried in 20ft and 40ft dry, refrigerated and special containers, including high-cube Equipment being transported is imminent.”
The company also noted, “This GRI/GRA applies to all containers fully sealed from March 29 and is effective until further notice.”
In addition, CMA CGM has issued a separate trade note announcing rate increases for all shipments from the Indian subcontinent to the US West Coast. This GRI is US$540 per 20ft container and US$600 per 40ft container.
“Effective April 15, 2023, unless otherwise noted, a General Tariff Increase (GRI) applies to all tariff or service contract tariffs to all freight tariffs to all goods moving within the scope of the tariff,” said CMA CGM Agencies (India) . However, shipper and freight forwarder sources in India generally believe the GRI action is a tactical move to stem the rate erosion as there is no opportunity at this time to stem the tide of rate levels that have not yet stabilised. to reverse
Source: News NetworkShare it now
Hyundai to retrofit CoolCo’s LNG carriers with reliquefaction units.
Survitec Launches Interactive Safety Management Solution for Onboard Fire Protection.
SHI’s Hull Stress Monitoring System receives ABS SMART approval for ship safety.