South Korean ocean carrier HMM has announced a new general rate increase (GRI) from India to the East Coast of Latin America on its Far East India Latin (FIL) service.
HMM will increase its rates by US$1,500/TEU with an immediate effect “to ensure it can handle the increased cargo volume efficiently”.
The shipping company said that “due to the ongoing security concerns and attacks on vessels transiting through the Suez Canal, most shipping lines have made the decision to cease passage through the Suez Canal and opt for the route via the Cape of Good Hope.”
HMM added, “This change in routing will indirectly affect our FIL service, which is moving directly from Kattupalli to Latin not via the Suez Canal.”