CMA CGM announced on March 1 revenue restorations on the Asia-Europe market, both westbound and eastbound.
The French container line said that a second revenue-recovery step will be implemented from Asia to North Europe and the Mediterranean effective April 1 as follows:
– Interim fuel surcharge of US$550 per 20-foot equivalent unit (TEU) will be increased by $30 per TEU.
– The Aden gulf surcharge (AGS) of $54 per TEU is reinstated.
– The Suez Canal surcharge (SCS) is reinstated and increased to $14 per TEU.
– The container security fee (CSF) of $10 per container is reinstated.
– An emergency revenue increase of $300 per TEU will be added on top of all quotations.
CMA CGM, the world’s third largest container shipper, said the above increases—totaling $408 per TEU and $806 per 40-foot container—will be applied to dry cargo, OOGs, paying empties, break-bulk, and reefer cargo.
The rate hikes cover freight coming from all Asian ports (including Japan, Southeast Asia, Colombo, and Bangladesh) to all Northern European ports (including UK and the full range from Portugal to Russia), the West Mediterranean, Adriatic, East Mediterranean, Black Sea, and North Africa.
On the North Europe to Asia trade, CMA CGM plans to implement a new rate increase only on low-value cargo (wood, paper, plastic, metals) and dry container type shipped from North Europe to the Far East.
The rate hike of $100 per TEU takes effect from March 19 and covers trade from North Europe, the United Kingdom, and Scandinavia to all Asian ports (including China, Japan, Korea, and Southeast Asia).
On the other hand, Germany’s Hapag-Lloyd also announced on March 1 a general rate increase on all cargo and container types from Mexico, Central America, and the Caribbean to Asia (East Asia, the Indian sub-continent, and the Middle East).
Effective April 1, Hapag-Lloyd’s freight rates on these loops will increase by US$100 per TEU and $200 per FEU.
Central America covers Honduras, Guatemala, Belize, Costa Rica, Nicaragua, El Salvador, and Panama, while the Caribbean is comprised of Colombia (via Caribbean ports only), Venezuela, and all the Caribbean islands.
Photo: Hapag-Lloyd
