Starting from January 15th, CMA Westland freight rates will double

CMA CGM, the world's third largest container shipping company, recently announced a significant increase in freight rates from Asia to the Mediterranean.

After January 15, 2024, cargo loaded at the port will be priced at the new rate.

Among them, the freight rates for the route from Asia to the Western Mediterranean will be raised from US$2,000/TEU and US$3,000/FEU on January 1, 2024 to US$3,500/TEU and US$6,000/FEU on January 15, 2024, with the highest increase 100%.

The freight rates for the Asia-Eastern Mediterranean route will increase from US$2,100/TEU and US$3,200/FEU on January 1, 2024 to US$3,600/TEU and US$6,200/FEU on January 15, 2024.

In addition, freight rates from Asia to the Adriatic, Black Sea and Syria have all increased significantly.

Previously, liner companies including Mediterranean Shipping Company, ZIM, Hapag-Lloyd, etc., all announced price increase plans for Asia-Europe routes in December 2023. On January 2, Maersk decided to continue to suspend all transit through the Red Sea/Gulf of Aden until further notice.

The ongoing tensions in the Red Sea region have led to an increase in shipping distance and cost on the Asia-Europe route, causing the Asia-Europe route to face tight capacity in the short term. In the coming period, freight rates are expected to continue to rise.

According to the latest data from the Shanghai Shipping Exchange, the market freight rates (shipping and shipping surcharges) exported from Shanghai Port to European and Mediterranean basic ports on December 29 were US$2,694/TEU and US$3,491/TEU, an increase of 80.0% and 80.0% respectively from the previous period. 70.0%.

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