SCI to raise freight rate on India-Europe services

Reuters: State-run Shipping Corp of India said it plans to increase its freight rate on cargo moving between India and Europe from Nov 1.

The proposed hike will be $200 per TEU (twenty-foot equivalent units) for all bookings to North Europe, UK, Mediterranean and Black Sea trades, SCI said.

The rate increase was “imperative at this point to meet the overall operations costs and, hence, make the service viable,” the company added.