CMA CGM plans rate increase on most services from April 1

MARSEILLES' CMA CGM said it will impose a freight rate increase on services from Asia to Europe, from India and Pakistan to Europe and from Asia to South America from April 1, adding that more details would be available on March 1.

"The present rates and the trend on the main Far East to Europe trades have been deteriorating to a level which is no longer sustainable," said a CMA CGM statement.

While US-Canada-Mexico transpacific rates were not mentioned in the announcement from the world's third largest container shipping line, the rate increase will be raised at annual rate negotiations with individual shippers in March and April.

The statement also said the shipping line will increase rates on westbound and eastbound trades as of April 1.

Source: Schednet