More rate rises on global trade lanes

Just days after container freight rates on the westbound Asia-Europe corridor rose 28%, French shipping line CMA-CGM announced an “emergency rate restoration” charge from May 1.

The hike is of $385 per teu on routes from Asia to Europe and the Mediterranean.

The increase will apply to containers, breakbulk and reefers from all Asian ports to all North European, Russia, Mediterranean, Adriatic, Black Sea and North Sea ports.

Emirates Shipping Line had raised its rates on the Far East & South-east Asia to East Africa trade lane by $250 per teu.

On its Far East & South-east Asia to the Indian sub-continent trade lane, they will go up by $300 per teu.

`A few days earlier, Maersk announced it would increase its rates on cargo from Far East Asia to the US on May 1.

West coast shipments will rise by $400 per teu, $500 per feu, $565 per 40ft high-cube and $630 per 45ft high-cube containers, while to the east coast, the increases will be $560 per teu, $700 per feu, $790 per 40ft high-cube and $885 per 45ft high-cube containers.

Rates on dry shipments in the other direction will go up by $160 per teu, $200 per 40-ft high-cube and $250 per 45ft high-cube.

Far East Asia to Canada will see rises of $400 per teu, $500 per feu, $565 per 40ft high-cube and $635 per 45ft high-cube, and from Far East Asia (excluding Japan) to Europe, rates will go up by $400 per teu.

In the other direction, prices will rise $160 per teu and $200 per 40ft and 45ft high-cubes from 10 May.

Cargo from the Middle East and Indian Subcontinent to North Europe and the Mediterranean will rise by $200 per teu and $400 per feu and routes from Latin America to India will go up $1,000 per teu from May 5.

The World Container Index’s Shanghai-Rotterdam container freight rate sub-index went from US$2,654 per 40ft container on March 29 to $3,408 on April 5, a rise of $754.

Carriers in the key Asia-Europe headhaul trade imposed general rate increases of about $400 per teu from April 1, and the index suggests that the shipping lines have been able to enforce the majority of price increases announced so far this year.