CMA CGM Seeks Peak-Season Surcharge

7/22/2009 10:12:49 AM

CMA CGM, ramping up pressure from carriers to push up beaten-down revenue, has confirmed it will apply a previously announced peak-season surcharge of $150 per 20-foot container on shipments from Asia to Europe starting Aug. 1.   The French carrier said it is imposing the surcharge “in view of the strong market conditions prevailing on the Asia-Europe trade” and would keep it in force for as long as market conditions justify it.   The surcharge is in addition to the increase of $300 per TEU in the base freight rate that the carrier imposed on June 1, following similar increases by other major lines, including Maersk Line.   At the time it announced its June 1 rate increase, CMA CGM said it planned to impose a peak-season surcharge if conditions warranted.   All carriers have been losing money in the Asia-Europe trade lane as a result of the ferocious rate war waged during the winter months.   The Journal of Commerce Online

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