CMA CGM Hikes India-Europe Rates

CMA CGM carried the shipping world's rate hiking efforts to a new market Tuesday, announcing price increases on container business between Europe and the Indian sub-continent.

Freight rates will increase on all cargo and commodities moving westbound and eastbound between India, Pakistan, Europe and the Mediterranean, as of Sept. 1, the carrier said.

The move, which the French carrier called part of its “rate restoration” program, is designed to restore freight rates to what it called sustainable levels.

It is one of a series of rate increases that it and most other carriers have announced this summer on all major trade lanes.

It is seeking increases of $250 per 20-foot dry container and $400 per 40-foot and 40-foot high cube containers in westbound rates from India and /Pakistan to Europe and the Mediterranean.

The surcharge for overweight westbound cargos of more than 23 tons (including tare—the weight of the container) will increase by $150 per 20-foot dry container.

It is seeking an increase in rates on eastbound cargos from Europe and the Mediterranean to India and Pakistan of $100 per TEU and $200 per FEU and 40-foot high cube containers.

Contact Peter T. Leach at pleach@joc.com.