CMA CGM latest to raise transatlantic rates

CMA CGM latest to raise transatlantic rates    CMA CGM said Friday it is raising rates from Northern Europe to North America, effective Sept. 1.
   The increase, $400 per TEU and $500 per 40-foot equivalent unit, applies to all cargo and commodities moving westbound. The carrier said the increases were being introduced to bring rates to a more sustainable level.
   'The transatlantic trade is one of CMA CGM key trades, allowing the group to ensure its east/west global coverage,' said Jean-Philippe Thenoz, vice president North America lines for the CMA CGM Group. 'A rate restoration is necessary to maintain a viable presence on this trade and ensure the best level of services required by our European and North American customers.'
   Westbound transatlantic trade was down by as much as 30 percent in the first quarter, and rates have fallen in tandem with demand.
   Hapag-Lloyd, Hanjin Shipping, Hyundai Merchant Marine, Maersk Line and Evergreen have all announced rate restoration plans of their own on the transatlantic during July.