MOL to hike India-Africa cargo rates

Japanese carrier MOL announced plans to implement a rate increase for cargo moving on its services from India to East Africa.

The carrier in a trade notice said the increase will be $300 (Dh1,102) per TEU (20-foot equivalent units), to be applied when its vessel, the PAC Antlia, calls the Port of Jawaharlal Nehru on February 21.

The rate hike is necessary, MOL stated, to offset a substantial increase in operational costs and be able to provide reliable services to customers.

The move comes just after Mediterranean Shipping Co, Emirates Shipping Line and CMA CGM announced a similar increase on the route, effective February 17.