Freight Rate, Surcharge Update for Week of Feb. 6-10

Middle East carrier Emirates Shipping Line will apply a two-phase general rate increase for cargo moving on its Far East and intra-Asia services. On trades from the Far East and Southeast Asia to East Africa, rates will go up by $250 per 20-foot container, effective March 1, followed by another increase of the same amount, starting April 1.

From the Far East and Southeast Asia to the Indian subcontinent and the Middle East, shipments will attract increases of $150 per 20-foot container, starting March 1, and $100 per 20-foot container, starting
March 15, with another round of price hikes of the same amounts slated for April 1 and April 15. ESL’s proposed rate increases on intra-Asia trade lanes will be $50 per 20-foot container, effective March 1, followed by another GRI of the same amount effective April 1.

CMA CGM will apply a general rate increase on westbound cargo moving on its Epic service from India to North Europe and the Mediterranean, the French ocean carrier’s second GRI this year. Starting March 1, the planned increase on dry and refrigerated shipments will be $200 per 20-foot container and $400 per 40-foot/high cube container.

“In a continued effort to provide reliable and efficient services, CMA CGM Group has decided to restore freight rates between India and North Europe-Mediterranean-Baltic-Black Sea-North Africa trades to a sustainable level,” CMA CGM India said. The Marseilles-based carrier earlier raised rates on the Epic with a GRI of the same amounts that took effect Feb. 1.