CMA CGM has announced an “emergency rate restoration” of $385 per 20-foot container on routes from Asia to Europe and the Mediterranean.
The French carrier did not provide reasons for the rate hike on dry cargo, out-of-gauge cargo, paying empty containers, breakbulk and reefer cargoes, effective May 1.
The higher rate applies to shipments from all Asian ports, including Japan and Southeast Asia, to all North Europe ports, including those in the U.K. and the full range from Portugal to Russia, the western Mediterranean, the Adriatic, the eastern Mediterranean, the Black Sea and the North Sea.
CMA CGM’s latest rate hike follows a 28 percent surge in spot freight rates in the Asia-Europe trade last week, which coincided with carriers implementing general rate increases averaging $400 per 20-foot container on April 1.
The spot rate from Shanghai to Rotterdam jumped to $3,408 per 40-foot container on April 5, from $2,654 on March 29, according to the World Container Index.
Contact Bruce Barnard at firstname.lastname@example.org.