Maritime Newsletter

CMA CGM Hikes Rates - 2009-03-10

CMA CGM on March 2 became the latest carrier to announce increases in ocean freight rates across its main trades for the second quarter. The French carrier's rate restoration, effective April 1, covers the Asia-Europe and transatlantic services, as well as routes to the Mediterranean, the Middle East, Red Sea, North Africa, India/Pakistan and South America. Rates between North Europe and the US will rise by $160 per 20 foot dry container and $220 per 40 foot/40 foot HighCube. On eastbound routes from Asia to Europe, the Mediterranean, Adriatic, Black Sea and North Africa rates for a 20 foot box will increase by $350 and by $700 for 40 footer. Westbound rates to Asia will rise by $100 for a 20 foot container and $150 for a forty foot box. CMA CGM also said it will "firmly follow" the rate restoration quantum implemented by members of the Transpacific Stabilization Agreement as from May 1 on the eastbound leg.

Source: Journal of Commerce