Home » Breaking News, Maritime » MSC, Zim to boost rates on Far East-Europe routes

Mediterranean Shipping Co.  (MSC) and Zim Integrated Shipping announced general rate increases (GRIs) for the Far East-Europe trade lane, which will take effect from early November.

Geneva-based MSC said it will impose from November 1 a GRI of US$500 per 20-foot-equivalent unit (TEU) on all shipments from Asia to the Mediterranean, the Black Sea, North Europe, Scandinavia, and the Baltic .

Israeli box ship Zim said it will likewise implement a rate hike of $500 per TEU from November 1 on all shipments from Asia to Europe. The increase covers cargoes bound for North Europe (including Scandinavia and the Baltic), West and East Mediterranean (including Israel), and the Black Sea region.

“These updates are necessary in order to maintain our current levels of service and high reliability,” Zim said in an official statement

MSC also plans to hike freight rates for all eastbound cargo from North Europe (including the UK) to the Far East (including Japan). From November 1, rates on this lane will be higher by $200 per TEU or per 40-foot-equivalent unit.

There will also be bunker compensation (BUC) to be applied by MSC to cargo from Asia to the West and East Mediterranean, Adriatic, Black Sea, UK, North West Continent, Scandinavia, Baltic, and North Africa.

The BUC of $930 per TEU is effective from November 1.

Meanwhile, Zim said it has nominated Guy Eldar as group chief financial officer (CFO).

Eldar will assume his position in December 2012, replacing Alon Raveh, who has served as CFO since 2009.

Eldar, 37, is a certified public accountant with a Bachelor’s degree in Accounting and Economics from The Hebrew University of Jerusalem.

He brings to the company his expertise in the international capital markets and banking, having formerly served as CFO of Danya Cebus, a public company listed on the Tel Aviv Stock Exchange.


Photo: jdnx


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