Two days after IFW reported that container freight rates on the westbound Asia-Europe corridor had gone up 28% last week, CMA CGM has announced a 1 May “emergency rate restoration” on the trade.
The French carrier has announced a hike of US$385 per teu on routes from Asia to Europe and the Mediterranean.
The increase will apply to containers, breakbulk and reefers from all Asian ports to all North European, Russia, Mediterranean, Adriatic, Black Sea and North Sea ports.
Two days after IFW reported that container freight rates on the westbound Asia-Europe corridor had gone up 28% last week, CMA CGM has announced a 1 May “emergency rate restoration” on the trade.
The French carrier has announced a hike of US$385 per teu on routes from Asia to Europe and the Mediterranean.
The increase will apply to containers, breakbulk and reefers from all Asian ports to all North European, Russia, Mediterranean, Adriatic, Black Sea and North Sea ports.
IFW had reported that Emirates Shipping Line had raised its rates on the Far East & South-east Asia to East Africa trade lane by US$250 per teu.
And on its Far East & South-east Asia to the Indian sub-continent trade lane, they will go up by $300 per teu.
A few days earlier, Maersk announced it would increase its rates on cargo from Far East Asia to the US on 1 May.
West coast shipments will rise by $400 per teu, $500 per feu, $565 per 40ft high-cube and $630 per 45ft high-cube container, while to the east coast, the increases will be $560 per teu, $700 per feu, $790 per 40ft high-cube and $885 per 45ft high-cube.
Rates on dry shipments in the other direction will go up by $160 per teu, $200 per 40-ft high-cube and $250 per 45ft high-cube.
Far East Asia to Canada will see rises of $400 per teu, $500 per feu, $565 per 40ft high-cube and $635 per 45ft high-cube, and from Far East Asia (excluding Japan) to Europe, rates will go up by $400 per teu.
In the other direction, prices will rise $160 per teu and $200 per 40ft and 45ft high-cubes from 10 May.
Cargo from the Middle East and Indian Subcontinent to North Europe and the Mediterranean will rise by $200 per teu and $400 per feu and routes from Latin America to India will go up $1,000 per teu from 5 May.
The World Container Index’s Shanghai-Rotterdam container freight rate sub-index went from US$2,654 per 40ft container on 29 March to $3,408 on 5th April, a rise of $754.
Carriers in the key Asia-Europe headhaul trade imposed GRIs of about $400 per teu from 1 April, and the index suggests that the shipping lines have been able to enforce the majority of price increases announced so far this year.
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