EUROPE/MIDEAST CARRIERS CONFIRM RATE RISE
Shipping lines of the Europe Middle East Rate Agreement confirmed their plan,. announced in June, to increase freight rates from northern Europe to the Middle East by $250 per container, effective from Oct. 1.
The rate increase applies to dry and refrigerated cargo.
The members of the Europe Middle East Rate Agreement carriers are Andrew Weir Shipping (Ellerman), CMA CGM, Hapag-Lloyd, Maersk Sealand, P&O Nedlloyd, Safmarine, Senator Lines and United Arab Shipping Co.
The eastbound rate increases from Europe to the MidEast will coincide with a previously-announced $250-per-container rate increase planned by the Far Eastern Freight Conference from northern Europe to the Far East. Most of the members of the Europe Middle East Rate Agreement are also members of the Far Eastern Freight Conference.