Indian exporters to the US market are facing huge rate hikes in the guise of general rate increase (GRI) and peak season surcharge (PSS) as shipping lines attempt to pull up their rates as high as possible, citing the danger to vessels moving through the Red Sea.
Considering the GRI and PSS levied by MSC in January, the charges per container have increased by $5000 on the US-India lane.
The shipping line will further implement a GRI of US$1,000 per container for moving all cargo out of India to the US East/West/Gulf coasts and San Juan (Puerto Rico) from 29 January.
MSC Agency (India), in a customer advisory, noted that the GRI is necessary to “maintain the high level of reliability and efficiency of its services to meet the needs of customers.”
The liner further said this hike plan is over and above the two GRI announcements already lined up to take effect from 10 January and 22 January, covering a US$500-per-container each.
Similarly, it will push through a fresh PSS of US$1,600 per container on the same trade lane from 29 January, after announcing surcharges of US$500 per container from 10 January and US$800 per box from 22 January.
Other carriers serving Indian trades have also announced multiple rounds of hefty rate increase plans for January, including emergency surcharges.
“The situation is constantly evolving and remains highly volatile, and all available intelligence at hand confirms that the security risk continues to be at a significantly elevated level,” Maersk said in an operational update.
