Med/India carriers raise freight rates

Med/India carriers raise freight rates    Shipping lines of the India Pakistan Bangladesh Ceylon Conferences plan to raise eastbound rates July 1 for shipments from the Mediterranean to the Indian Subcontinent.
   The planned increase is $100 per 20-foot container and $150 per 40-foot box. The conference said the rate increases will be valid until Sept. 30, as it plans another round of rate hikes.
   “All member lines are facing large increases in costs due to charter rates, which are at an all-time high, as well as a worldwide shortage of containers,” the conference said. The carrier group also cited delays and port congestion.
   Carriers of the India Pakistan Bangladesh Ceylon Conferences are: CMA CGM, Contship Containerlines, Ellerman, Evergreen, Hapag-Lloyd, “K” Line, Lykes Lines, MacAndrews, Maersk Sealand, Malaysia International Shipping Corp., Norasia Container Lines, Pakistan National Shipping Corp., P&O Nedlloyd, Rickmers-Linie, Safmarine, Shipping Corp. of India, United Arab Shipping Co., Yang Ming Line and Zim Israel Navigation Co.