CMA CGM PLANS TRANSATLANTIC RATE INCREASE

CMA CGM PLANS TRANSATLANTIC RATE INCREASE    CMA CGM said Wednesday it plans to increase its eastbound transatlantic rates by $120 per 20-foot container and $150 per 40-footer, effective Sept. 1.
   The action is identical to the rate increases announced by the Trans Atlantic Conference Agreement last week.
   “The rates to Europe had dropped to record low levels and rate improvement was required,” said F.J. O'Donnell, CMA CGM's vice president of Atlantic. He added that the increase will apply to all tariff cargo on Sept. 1 and to all service contract cargo as contracts are renewed.
   The French shipping line provides three sailings per week from U.S. Atlantic and Gulf ports to North Europe and four sailings per week from North Europe.