Home » Breaking News, Maritime » CMA CGM unveils new freight rate hikes for March-May

French ocean carrier CMA CGM continues its rate restoration initiative, announcing its new freight price hikes for the Asia-U.S. and Canada trades.

It also disclosed a slew of general rate increases (GRIs) for several major trades effective from March to May 2012.

Under its rate restoration program, there will be rate increases from Asia to all U.S. destinations (U.S. West Coast, U.S. IPIs, U.S. Gulf, U.S. East Coast), as follows:

  • US$240 per 20-foot equivalent unit (TEU)
  • $300 per 40-foot equivalent unit (FEU)
  • $340 per 40-foot high-cube equivalent unit
  • $380 per 45-foot equivalent unit
  • $480 per 53-foot equivalent unit

From Asia to Canada, rates will be higher as follows:

  • $320 per TEU
  • $400 per FEU
  • $450 per 40-foot high-cube
  • $510 per 45-foot equivalent unit

The above rate hikes take effect from March 15, 2012.

Effective March 1, the world’s third largest shipping group will also implement a GRI of $250 per EVP (equal to a 20-foot equivalent unit) from India and Middle East Gulf to East Africa (Mombasa and Dar Es Salam).

Effective March 15, new rate hikes will be felt on the following routes:

  • $200 per EVP from Asia to East Africa (Mombasa and Dar Es Salam)
  •  $400 per EVP from Asia to South America West Coast, Central America West Coast and Mexico
  • $560 per TEU and $800 per FEU and 40-foot high cube from Asia to the Caribbean
  • $600 per EVP from Asia to South America East Coast
  • EUR150 per EVP from North Europe to South America West Coast
  • EUR150 per EVP from North Europe to Caribbean, Central America East Coast, and South America North Coast

From April 1, rates from the U.S. to Australia and New Zealand are higher by $150 per 20-foot unit and by $300 per 40-foot unit.

Effective April 2, the rates from North Europe to India and Pakistan will be up by $150 per 20-foot dry and $200 per 40-foot dry.

Effective May 1, new rate hikes for the Asia-U.S. and Canada West Coast loops are as follows:

  • $400 per 20-foot container
  • $500 per 40-foot container
  • $565 per 40-foot high-cube container
  • $635 per 45-foot container
  • $800 per 53-foot container

Effective on the same date, the Asia-U.S, East Coast, U.S. IPIs and Canada IPIs lanes will carry higher rates as follows:

  • $560 per 20-foot container
  • $700 per 40-foot container
  • $790 per 40-foot high-cube container
  • $890 per 45-foot container
  • $1,120 per 53-foot container

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