French ocean carrier CMA CGM announced several rate hikes that will take effect in February and March.
From the Persian Gulf to North Europe, the Mediterranean, the Adriatic Sea and the Red Sea, the rate increase will be $200 per 20-foot container, effective Feb. 1.
From North Europe and the Baltic Sea to South America, the U.S. East and West coasts, the central coast of California and the Caribbean, rates will increase by $300 per 20-foot container, starting Feb. 15.
Beginning March 1, from North Europe to the Red Sea and Persian Gulf, the rate hike will be $150 per 20-foot, 40-foot and 40-foot high-cube container.
Rates will also rise by $200 per 20-foot unit from North Europe to the Far East, effective March 1.
CMA CGM will also impose a general rate increase on its services from India to West Africa, starting Feb. 1.
The planned increase on all cargo and containers will be $150 per 20-foot-equivalent unit and $300 per 40-foot container.
CMA CGM India said the rate restoration is necessary to “improve freight rate levels on the route.”