CMA CGM will raise its rates on westbound cargo moving on its Epic service from India to North Europe and the Mediterranean, starting May 1.
The planned increase on dry and refrigerated shipments will be $200 per 20-foot container and $400 per 40-foot/high cube container.
“In a continued effort to provide reliable and efficient services, CMA CGM Group has decided to restore freight rates from India to North Europe, the Mediterranean, Baltic, Black Sea and North Africa to a sustainable level,” CMA CGM India said.
This is the fourth general rate increase the French ocean carrier has announced this year on India-Europe trade lanes. The carrier imposed GRIs of the same amounts as of Feb. 1 and March 1, followed by a $150 per TEU hike as of April 2.
The move follows a $325 per TEU rate increase notice by United Arab Shipping on Asia-North Europe-Mediterranean trade lanes, also effective May 1.
UASC earlier pushed its rates up by $775 per TEU, effective March 1, and $400 per TEU, effective April 1, on the same routes.
The Journal of Commerce Online
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