Ocean freight increases to European ports

On February 1^st there is an expected $200 increase per TEU (20 foot equivalent) on containers going from India to Europe.  The current price per TEU is around $1400, so a $200 increase is significant.  This rate increase will stay in effect until March 31^st, and other increases will be determined for April 1^st through the end of May.   

The increase was decided at the IPBC conference.  Members of the IPBC are NL, CMA CGM, Hamburg Sud, Hapag-Lloyd AG, K-Line, MacAndrews and Co. Ltd, Maersk Line, MISC Berhad, CSAV Norasia Liner Services, Rickmers, Safmarine Container Lines NV, Shipping Corp. of India Ltd (SCI), United Arab Shipping Co., Yang Ming Line and Zim Integrated Shipping Services Ltd.