A moratorium on freight increases? Several shipping lines have announced hefty surcharges on Asia-South America/Mediterranean cargoes

Last week, CMA announced a halt to all spot rate increases until February, followed by A cap on spot rates that Hapagrot told the media. "We think spot rates have peaked, we are not looking for further increases and we hope the market will slowly start to calm down," Mr Haberot said.

In this regard, shipping analysts pointed out that only the suspension of spot freight increases, does not rule out the imposition of various surcharges. Indeed, the recent release of some shipping companies announced that surcharges will be imposed.

The general rate increase (GRI) for 20' and 40' dry cargo and reefer container shipments from East Asia to the east coast of South America will take effect on September 13, 2021, according to a notice posted on Hepagrot's website on September 16.

Details and geographic coverage of GRI collection are as follows:

▪ Asia - East Coast of South America: usd 1000 / container;

▪ Asia - Suap Port, Brazil: 2000/ container

In addition, on September 15, Hapaglot announced the introduction of the Peak season surcharge (PSS) for dry cargo from Egypt to all Nordic ports, effective September 21, subject to the date of departure of the voyage until further notice.

Hamburg Sud, a subsidiary of Maersk, has announced a peak season surcharge (PSS) for all types of cargo from Asia to the Mediterranean: $20' 1000, $40'2000.

It also states that the PSS will be in effect until further notice for all shipments loaded or received on board a ship with an ETD of 1 October 2021, if the FMC is of origin/destination, based on the estimated date of departure.