Major container lines have announced planned rate increases for a variety of trades, as detailed below, slated to take effect in November and December.
Asia-Europe
CMA CGM aims to increase rates on its trade from Asia to the Mediterranean and North Europe by $750 per TEU, beginning Nov. 1.
Mediterranean Shipping Co. has plans to hike rates in its westbound trade from India to Europe, starting Nov. 4.
In the opposite direction, CMA CGM plans to implement a rate increase for shipments from the Mediterranean to Asia by $100 per container, effective Nov. 1. The container line will also try to boost rates for shipments from North Europe, Scandinavia, the U.K. and the Baltic to the Red Sea and Persian Gulf, starting Nov. 16, by $150 per 20-foot container and $250 per 40-foot container.
MSC hopes to hike rates on cargo from the east Mediterranean and Black Sea to the Middle East, Asia and East Africa, effective Nov. 4. The hike will be $200 per 20-foot container and $300 per 40-foot container. The carrier also intends to boost rates on eastbound cargo from Europe to the Indian subcontinent by $200 per 20-foot container and $300 per 40-foot container, starting Dec. 15.
Intra-Asia
Four carriers intend to increase rates on Nov. 1:
- Emirates Shipping Line will attempt to hike rates on its westbound trade from the Far East and Southeast Asia to the Middle East by $500 per 20-foot container and $1,000 per 40-foot container.
- CMA CGM intends to boost rates on its trade from Asia, excluding Japan, to the Middle East, by $500 per TEU.
- Similarly, Hapag-Lloyd plans to raise rates on containers from East Asia, excluding Japan, to the Persian Gulf by $500 per TEU.
- Cosco Container Lines also hopes to hike rates by $500 per TEU on its trade from the Far East to the Red Sea and Persian Gulf.
Trans-Pacific
Hyundai Merchant Marine will seek to implement rate increases for specific commodities – waste paper, metal scrap, plastic scrap and resin, lumber and logs, hay and agricultural products – from the U.S. and Canada to Asia, starting Nov. 15. HMM’s announcement occurs in the context of recommendations for rate increases in the trans-Pacific trade lane by TSA Westbound members, in preparation for the upcoming peak season. Maersk Line has also planned U.S.-to-Asia rate hikes for mid-November.
Furthermore, Hapag-Lloyd hopes to hike rates for shipments from North America to East Asia, the Indian subcontinent and the Middle East by $160 per 20-foot container and $200 per 40-foot container, beginning Nov. 15. On the same date, in the opposite direction, the container line also intends to boost rates on its trans-Pacific eastbound trade from East Asia to the U.S. and Canada, by $320 per 20-foot container, $400 per 40-foot container, $450 per 40-foot high-cube container and $506 per 45-foot container.
Asia-Africa
Starting Nov. 1, CMA CGM will attempt to raise rates on its trade from Asia, including Japan, Southeast Asia and Bangladesh, to East Africa, by $200 per TEU.
Asia-Latin America
Hapag-Lloyd hopes to hike rates on its trade from East Asia to the Caribbean, east coast of Central America and Panama, starting Nov. 15. The hike will be $700 per 20-foot container and $1,000 per 40-foot container.
Asia-Australia
Hapag-Lloyd aims to increase rates for containers from Northeast Asia to Australia by $300 per TEU, effective Nov. 17.
Similarly, on the same date, MSC hopes to boost rates on cargo for the Panda and Wallaby services from the Far East to Australia by $300 per TEU.
The Journal of Commerce
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