CMA CGM hikes Europe, Asia, Mideast, Oz rates, adds surcharges

FRENCH shipping giant CMA CGM has announced increased rates on major trade lanes starting March 1, plus adding a peak season surcharge from north Europe to the Middle East, Gulf and the Red Sea.

From all north European ports, including the UK, Scandinavia and the Baltic area, to the Red Sea a peak season surcharge of US$100 per TEU and $200 per FEU will be applied from March 1. On March 15, a new peak season charge of US$100 per TEU and $200 per FEU for cargo from north European ports to the Middle East and Gulf will also be charged.

As for rates, from March 1 paper and plastic waste rates will increase US$200 per FEU from north Europe to the Far East. Rates will also increase $250 per TEU and $500 per FEU and 40-foot high cube from India to Europe and all Mediterranean ports, the company said.

From March 15, rates will increase $250 per TEU and $500 per FEU and 40-foot high cube from Pakistan to Europe and all Med ports.

From April 1, rates will increase $200 per TEU and $400 per FEU from north Europe and the Med to Australia and New Zealand, rates will also increase $300 per TEU and $400 per FEU from all Med and Black Sea ports to the US east coast. Rates will also increase EUR150 (US$204) per TEU from north Europe to Mexico and well as to the South American east coast.

From the South American east coast to the Mediterranean, Mideast-Gulf and north Europe, rates will increase $200 per dry TEU and $250 per reefer TEU and from Asia to west Africa, rates will increase $250 per TEU. From Europe to the Indian Ocean, rates will increase EUR250 per TEU.

The company also announced that from all origins except Europe to the Indian Ocean, rates will increase $350 per TEU.

Source: Bloomberg