Home » Maritime » Zim hikes rates in Asia-South America East Coast trade

Zim Integrated Shipping Services will impose a general rate increase (GRI) on the Asia-South America East Coast trade starting July 1, 2011. The planned increase on all cargo will be $500 per 20-foot equivalent unit, and $1,000 per 40-foot equivalent unit.

Zim earlier announced GRIs in the cross-Atlantic trade, also effective July 1. The increases will be $200 per 20-foot equivalent unit and $300 per 40-foot equivalent unit. The rate hike will affect cargo from the East Mediterranean (including Israel and the Black Sea), West Mediterranean and North Europe/Scandinavia to the United States and Canada and the Caribbean’s westbound trade.

The Israel-based carrier, one of the world’s largest container-shipping companies, said the rate increases are being made “in view of market conditions and current unsustainable rate levels.”

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