Container lines are preparing for rate increases on shipments from India to the United States, despite facing market challenges such as excess capacity. From mid-June, the cost to ship a container to the US East Coast will rise by an average of US$500, and to the US West Coast by US$1,200. CMA CGM and Hapag-Lloyd have announced peak season surcharges (PSS) of US$500 for the US East and Gulf coasts, with Hapag-Lloyd also applying a US$1,000 PSS to the US West Coast. Mediterranean Shipping (MSC) plans a general rate increase (GRI) of US$1,200 for cargo to the US West Coast and Canada. Maersk's peak season surcharges for ex-India bookings to the US and Canada will be US$560 per 20-foot container, US$600 per 40-foot container, and US$760 per 45-foot container.
Despite these increases, skepticism remains about the effectiveness of raising rates on the India-USEC route due to added capacity. However, with vessel bookings to the US West Coast at full capacity, there's a belief that rate hikes might be more successful there. Spot rates from West India to the USWC have recently increased. Meanwhile, rates from India to Europe have remained steady through May amid schedule disruptions. MSC has continued to enhance its transshipment operations at Mundra Port, marked by the arrival of the 19,200-TEU MSC Anna, the largest container ship to dock in India. DP World Cochin hosted the MSC Mara, reflecting its growing importance as a transshipment hub for South India.
Source: container-news.com