Maersk Line plans to implement a new round of rate increases for trade moving from the US and Canada to the Mediterranean.
Maersk Line plans to implement a new round of rate increases for trade moving from the US and Canada to the Mediterranean. Effective May 1, freight rates for dry cargo shipped from all origin points in the US and Canada to destinations in the Mediterranean and North Africa will increase by $80 (Dh294) per 20-foot container and $120 per 40-foot container, high cube or 45-foot container. The Danish carrier said the increases follow serious erosion in rate levels on the route, coupled with equipment shortages in some regions and delays onshore as well as reduction in available capacity.
Depending on market trends over the coming months, the carrier plans another general rate hike effective June 15.
The proposed increases will be $100 per 20-foot container and $150 per 40-foot container, high cube or 45-foot container. The company said rate increases are necessary to continue to operate services with the high level of reliability.
Recently, CMA CGM joined other container carriers to announce increases in ocean freight rates across its main trades for the second quarter.
The French carrier's rate restoration, effective April 1, covers the Asia-Europe and transatlantic services, as well as routes to the Mediterranean, the Middle East, Red Sea, North Africa, India/Pakistan and South America.
Rates between North Europe and the US will rise by $160 per 20-foot dry container and $220 per 40 foot/40 foot HighCube.
On eastbound routes from Asia to Europe, the Mediterranean, Adriatic, Black Sea and North Africa rates for a 20-foot box will increase by $350 and by $700 for 40 footer. Westbound rates to Asia will rise by $100 for a 20-foot container and $150 for a 40 foot box. CMA CGM said it will "firmly follow" the rate restoration quantum implemented by members of the Transpacific Stabilisation Agreement from May 1 on the eastbound leg.