Mitsui O.S.K. Lines (MOL) is slated to impose a new round of rate increases on its Far East to the Indian Subcontinent services as part of a rate restoration program, the online Journal of Commerce reports.
The Japan-based cargo liner will apply the rate hikes in two stages: Rates from the Far East (excluding Japan) will be raised by $100 per 20-foot container effective September 15. The next rate hike, amounting to $250 per TEU on shipments from Japan, begins October 1.
The Indian Subcontinent covers the ports in India, Pakistan, Sri Lanka, and Bangladesh. MOL’s move follows similar announcements on general rate increases by APL and Hapag-Lloyd, said Journal of Commerce.
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