CMA CGM to levy US$400/TEU, $500/FEU Atlantic rate hike September 1

MARSEILLES shipping giant CMA CGM has announced a westbound all-cargo rate increase of US$400 per TEU and $500 per FEU between north Europe and the US and Canada from September
1."A rate restoration is necessary to maintain a viable presence on this trade and ensure the best level of services," said CMA CGM vice president Jean-Philippe Thenoz.

Earlier this week, Maersk Line announced a rate increase on the transatlantic trade as rates had dropped to "unsustainable" levels.

Earlier, Maersk had announced it was increasing rates by US$400 per TEU and $500 per FEU and on high-cubes and 45 footers on all cargo moving between North America, and northern Europe from September 1.

The latest figures from the European Liner Affairs Association show rates dropped year-on-year 21 per cent on the eastbound and 26 per cent on the westbound leg in April, reported London's International Freighting Weekly

(Source: Transport Weekly)