CMA CGM announces rate hike

   French liner carrier CMA CGM has announced a “revenue restoration program” on its Asia-Europe trade lane.
   Outbound from Europe, the company said it will impose a general rate increase on July 1 of $150 per 20-foot container and $200 per 40-foot container from North Europe (defined as North Continent, Scandinavia, Baltic, and the United Kingdom) to the Far East (defined as China, Japan, Korea, and and Southeast Asia countries).
   Also on July 1, CMA CGM said it will impose a peak season surcharge of $150 per TEU (dry, OOGs, paying empties, breakbulk and refrigerated cargoes) from all Asian ports (including Japan, Southeast Asia and Bangladesh) to all Northern Europe ports (including the United Kingdom and the full range from Portugal to Russia).
   The company noted this peak season surcharge comes in addition to a July 1 $775-per-TEU general rate increase on Asia-to-North Euripe cargo that was announced earlier this month. – Chris Dupin