Marseilles based CMA CGM, the French shipping giant, has announced a wide range of rate hikes in a "rate restoration" programme, the Sgipping Gazette informs.
From May 1, there will be a US$400 per FEU rate increase from Asia and the Indian subcontinent to the North American west coast. Rates from Asia and the subcontinent to the US and Canadian interior via west coast ports will go up $600 per FEU. Another $600 per FEU on cargo will be charged from Asia and the subcontinent to the US interior via east coast ports.
From May 1, cargo from Asia and the subcontinent to the US and Canada interior points via west coast ports will be charged another $600 per FEU. From Asia and the subcontinent to the US interior via east coast ports will be charged another $600 per FEU.
From May 9, there will be a $250 per TEU rate increase from New Zealand to Europe. From May 1, rates will increase $214 per TEU from North Europe to the Caribbean, Central America and the west coast of South America. Also from May 1, there will be a $150 per TEU rate increase from North Europe to Mexico and $150 per TEU from all Asia origins to the Red Sea.