Freight prices are rising! Maersk, CMA CGM, Hapag-Lloyd and HMM have raised freight rates

The holidays have just passed and shipping costs are going up again! Against the background of the recent intensification of tensions in the Red Sea and the increase in demand due to the recovery of the global economy, freight rates on major routes have increased significantly. Recently, major shipping companies have continued to increase FAK rates and impose peak season surcharges. Among them, CMA CGM raised FAK rates in the Mediterranean and North Africa again in mid-May, with the North African freight rate approaching US$7,800. Maersk levied peak season surcharges globally, and Hapag-Lloyd also began levying peak season surcharges at African destination ports in mid-May. .

01 CMA CGM once again raises FAK rates from Asia to the Mediterranean and North Africa

CMA CGM issued a notice on April 30 stating that from May 15 to 31, 2024 (the loading date at the departure port), it will adjust the shipping schedule from Asia to the Western Mediterranean, Adriatic Sea, Eastern Mediterranean, Black Sea and North Africa (Algeria). , Tunisia, Libya, Morocco) the new FAK rate reaches USD 6,300/FEU in the Eastern Mediterranean and reaches a maximum of USD 7,800/FEU in North Africa.

Compared with the previous adjustment, the price has increased again this time, with an increase of US$400-500 for a 20-foot container, an increase of US$800-1,000 for a 40-foot container and a 40-foot high container. Details are as follows:

Port of departure: all major Asian ports

Port of destination: to all basic Mediterranean ports (above areas)

Box type: Dry goods, OOG and paid empty boxes

Effective date: May 15 to 31, 2024 (loading date at port of departure) until further notice

The following is the FAK rate adjustment plan from Asia to the Mediterranean and North Africa announced by CMA CGM on the 19th. The effective date is: May 1st to 14th (loading date at the port of origin).

In addition, CMA CGM released the latest announcement on its official website saying that starting from May 15 (loading date), the new FAK rate from Asia to Northern Europe will be raised again to US$2,700 per 20-foot container, and US$5,000 per 40-foot container including high cabinets and refrigerated containers. US dollars, until further notice, will be increased by US$500 and US$1,000 respectively compared with the previously adjusted freight rates implemented on May 1.

Port of departure: from all Asian ports (including Japan, Southeast Asia and Bangladesh)

Port of destination: to all Nordic ports (including UK and the full range from Portugal to Finland/Estonia)

Box type: dry box, OOG, paid empty box & refrigerated box

Implementation date: From May 15, 2024 (loading date at the port of origin) until further notice

02 Maersk imposes peak season surcharge globally

Maersk issued notices in two batches on the 26th and 30th, adding some regions and raising or revising the previously announced peak season surcharges on major routes such as South America, India and Pakistan, and Africa. The highest surcharge for South American routes reaches US$2,000. .

Maersk imposes South American peak season surcharge PSS

On April 30, Maersk issued a notice on its official website to impose a peak season surcharge (PSS) from the Far East to the west coast of South America, Central America and the Caribbean. The 20-foot dry box is US$1,000, and the 40-foot and 45-foot dry boxes are US$2,000.

Asia (excluding Vietnam and Taiwan) to the west coast of South America (excluding Colombia, Puerto Rico, the Virgin Islands and Guam), with an effective date of May 1, 2024;

Vietnam to the west coast of South America (excluding Colombia, Puerto Rico, the Virgin Islands and Guam), with an effective date of May 12, 2024;

Asia (excluding Vietnam and Taiwan) to Colombia, Puerto Rico, Virgin Islands and Guam, the birthday is valid until June 1, 2024;

From Taiwan, China to the west coast of South America, the birthday is valid until June 1, 2024.

Maersk imposes South America East Peak Season Surcharge PSS

On April 30, Maersk issued a notice on its official website to revise (raise) the peak season surcharge (PSS) for all dry containers from Far East Asia (excluding Taiwan, China) to the east coast of South America. The effective date is from May 1 to May 2024. The validity period for travel from Vietnam to the east coast of South America is from May 9 to May 31, 2024; the validity period from Taiwan to the east coast of South America is from May 24 to May 31, 2024. The 20-foot dry box is US$1,000, and the 40-foot and 45-foot dry boxes are US$2,000.

Maersk imposes China-Africa peak season surcharge PSS

On April 26, Maersk issued a notice on its official website to revise (raise) the peak season surcharges from China, Hong Kong, and Taiwan to Angola, Cameroon, Congo, Democratic Republic of the Congo, Equatorial Guinea, Gabon, Namibia, Central African Republic, and Chad ( PSS), the effective date is May 6, 2024, and the effective date in Taiwan is June 6, 2024. All 20-foot containers are $1,000, and 40- and 45-foot dry containers are $2,000. (Note: Compared with the previous notice, they increased by US$300 and US$1,000 respectively)

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