Asian liner duo plan India rate rise

Container lines say increases designed to recover increased costs and restore to more sustainable rates.

Samudera Shipping Line and Orient Express Lines plan to increase rates on trades between Singapore and India.

Shippers with cargoes headed from Singapore and Port Klang to Kolkata face a minimum increase of $400 per teu and $260 teu on the return leg.

The two intra-Asian container lines said the rate restoration move would be applied with effect from 1 June 2017.

The two shipowners said the move was designed to “recover the increased cost and restore to more sustainable rates”.

Late last month Samudera Shipping has posted a small net loss of $900,000 in the first three months of the year versus a $2.9m profit a year earlier.

The company said operating conditions in regional container shipping were expected to remain challenging while competition will be intense.