Container freight price increases on Asia-bound cargo will take effect in October.
Mediterranean Shipping Co. on Monday announced a general rate increase on cargo moving from the United States to ports in the Far East effective Oct. 1.
“Steamship lines are once again challenged to maintain service profitability since freight rates are at levels that are no longer sustainable,” said MSC, adding it was raising prices in order to maintain service.
It said the GRI was “applicable to all service contracts, tariff items and exempt commodities.” It does apply to refrigerated cargo.
The amount of the increase is $80 for 20-foot and $100 for 40-foot dry containers to Asia originating at ports on the U.S. West Coast, East Coast, Gulf Coast and Puerto Rico, as well as inland cargo routed via Gulf ports.
A larger increase — $120 for 20-foot and $150 for 40-foot dry containers — will apply to inland cargo to Asia moving via the West Coast or East Coast.
MSC raising rates on U.S. exports
