Maersk Line, the world's largest container line, will slap a general rate increase from May 15 on its services between Far East and the Indian subcontinent.

The extent of increases will be US$150 for a TEU and $300 per FEU and high-cube 45-ft container, reported The Hindu.

Also, effective May 15, rates for services from the US to the Indian subcontinent (India, Pakistan and Bangladesh) will increase $150 for a container, irrespective of size and capacity.

This is in continuation of a series of freight increases announced by the Danish shipping giant and followed by several other shipping lines on several trade lanes in past few months "as prevailing rates are proving difficult to sustain".

Meanwhile, CMA CGM, France's number one and the world number three container line, has announced rate increases of $200/TEU and $400/FEU on services from West Asia to the Indian sub-continent.

Between Latin America and India, the extent of increase will be $1,000/TEU. The revised rates are to come into force from May 5.
 
Source: cargonewsasia