CMA CGM Raises Asia-Mediterranean-Europe Rates

2/3/2012 9:04:24 AM

CMA CGM announced a rate increase of $750 per 20 foot container on the Asia-Mediterranean-North Europe route effective March 1, mirroring recent rate hikes by close rivals Maersk Line and Hapag-Lloyd. The French carrier said the increase consists of a $200 per TEU rate restoration and a $550 per TEU interim fuel surcharge. The hikes are in response to an “unprecedented” decline in rates in 2011, a sharp increase in bunker prices and deteriorating operating conditions in Asian ports. The higher rates will apply to containers shipped from all Asian ports, including Japan, South East Asia Colombo and Bangladesh, to all northern European ports and to the Mediterranean, Adriatic Sea, Black Sea and North Africa. The Journal of Commerce Online

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