Europe/South America carriers raise southbound rates
Members of the European/South Pacific & Magellan Freight Conference, a carrier group in the Europe/West Coast of South America trade, said they will increase southbound freight rates, effective Mar. 1.
The rate increases will be 150 euros or $200 per 20-foot container. The conference said it will increase rates further on June 1 and Oct. 1.
“The sharply rising system costs, especially charter hire ' have rendered these increases absolutely necessary,” the conference said in a statement.
European/South Pacific & Magellan Freight Conference carriers are CMA CGM, Compania Sud Americana deVapores, Hamburg Sud, Hapag-Lloyd, “K” Line and P&O Nedlloyd.