Major route adjustment! Hapag-Lloyd, CMA CGM and Maersk announce price increases on these routes

Recently, shipping companies have started a new round of price increase plans. Shipping companies such as Hapag-Lloyd, CMA, Maersk, and COSCO Shipping have once again issued notices on fee collection adjustments for some routes.

In addition, according to news recently released by the Ningbo Shipping Exchange, from October 28 to November 3, the freight index for the East Route of South America increased by 15.3% month-on-month.

Hapag-Lloyd and CMA raise freight rates

Hapag-Lloyd raises FAK rates from the Far East to Northern Europe and the Mediterranean.

Recently, Hapag-Lloyd announced that starting from December 1, FAK rates for transportation between the Far East and Northern Europe and the Mediterranean will increase. The price increase applies to goods transported in 20-foot and 40-foot containers.

In addition, the CMA also updated FAK rates from Asia to Northern Europe.

Effective from December 1, 2023 (shipping date) until further notice. USD 1,000 per 20-foot dry box, USD 1,800 per 40-foot dry box/high box/refrigerated box. Details are as follows:

At the same time, the CMA also adjusted FAK rates from Asia to the Mediterranean and North Africa. Effective from December 1, 2023 (shipping date) until further notice.

Maersk and COSCO Shipping impose surcharges

A few days ago, another shipping giant, Maersk, announced the imposition of a peak season surcharge PSS from the Far East to East South America.

A peak season surcharge will be imposed on all dry cargo containers from Greater China and Northeast Asia (excluding Taiwan, China) to central/southern West Africa starting from November 6, 2023. The details are as follows:

It will take effect on December 3, 2023 in Taiwan, China, and on November 18, 2023 in Vietnam.

In addition, Maersk also announced the imposition of a peak season surcharge PSS from the Far East to West Africa.

At the same time, COSCO Shipping Express recently issued a notice stating that since the EU carbon emissions trading system will be officially implemented in the shipping industry from January 1, 2024, its operating costs will be significantly increased.

Therefore, the company plans to introduce ETS surcharges on routes involving the EU from January 1, 2024.

The company further explained that it will make a reasonable estimate of the surcharge based on normal freight rates, taking full consideration of factors such as route and ship type characteristics, cargo type, and services provided.

At the same time, COSCO Shipping Express also announced surcharge guidelines, including: pulp US$3.5/freight ton; semi-submersible ships are assessed based on actual carbon emissions in principle.

Containers are US$120/TEU and US$240/FEU; heavy items, breakbulk cargo and other goods are US$4.0/freight ton.

In addition, COSCO Shipping Express emphasized that it will be committed to promoting green shipping and strive to reduce carbon emission intensity, and hopes to cooperate with partners in the use of new energy for ships.

The freight index for the South American East Route increased by 15.3% month-on-month

Recently, according to the Ningbo Shipping Exchange, from October 28 to November 3, the Ningbo Export Container Freight Index of the Maritime Silk Road Index released by the Ningbo Shipping Exchange closed at 753.5 points, an increase of 3.5% from last week.

Among them, the freight index of 10 of the 21 routes increased, and the freight index of 11 routes fell. Among the major ports along the "Maritime Silk Road", the freight index of 8 ports increased and the freight index of 8 ports fell.

European routes. Liner companies strictly control available shipping capacity, and freight rates on European routes continue to rise. Freight rates on the Mediterranean route fell due to the relative lack of transportation demand, with the Mediterranean route experiencing a larger decline.

The freight index for the European route was 516.6 points, up 4.7% from last week; the freight index for the east-west route was 642.0 points, down 0.9% from last week; the freight index for the east-west route was 698.6 points, down 8.4% from last week.

North American routes. The overall shipping capacity of routes this week is tight, and market freight rates continue to rise. The freight index for the US East Route was 849.7 points, an increase of 8.3% from last week; the freight index for the US West Route was 1222.6 points, an increase of 10.7% from last week.

Middle East routes. The shipping space on routes continues to be tight, liner companies continue to push up freight rates, and booking prices in the spot market continue to rise. The Middle East route index was 987.2 points, an increase of 8.7% from last week.

The South American east route market fluctuated greatly this week. As destination demand continues to rise, booking prices in the spot market have increased by more than 10% for four consecutive weeks. The freight index for the East Route of South America was 1611.9 points, an increase of 15.3% from last week.