Date: 29/05/2024

Freight rates may rise to Europe, US 

As shipping lines are introducing surcharges to meet the additional cost of routing the vessels through the Cape of Good Hope, sending cargo to Europe and the US by ships will become more expensive from June, according to reports. Leading lines are reportedly imposing significant Peak Season Surcharge (PSS) from India and West Asia to the North American West Coast as well as from India, Bangladesh and Sri Lanka to the US East Coast and Gulf Coast. The rates range between $500 and $1,000 per container and are also subject to other applicable surcharges, including local charges and contingency charges, the reports said.
Source: Exim News Service: Mumbai, May 28