CMA CGM seeks general rate increase on most trades

2/24/2009 9:58:02 AM

French carrier CMA CGM said it will seek a general rate increase on all its services, especially those from Asia to Europe, Asia to the Mediterranean, from India and Pakistan to Europe and from Asia to South America.   “The present rates and the trend on the main Far East to Europe trades have been deteriorating to a level which is no longer sustainable,” the French carrier said in its announcement.   It said it will increase its freight rates on westbound and eastbound trades as of April 1. It plans to announce the levels of the rate increases on March 1.   The announcement did not mention a rate increase on the trans-Pacific trade, because those rates are mostly set in annual contract negotiations with individual shippers.   The move follows recent announcements by APL, Maersk Line and Hapag-Lloyd that they will seek rate increases in both directions on the trade between Asia and Europe.   The Journal Of Commerce Online

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