European/South America carriers raise rates
Shipping lines of the European/South Pacific & Magellan Freight Conference, a carrier group in the Europe/West Coast of South America trade, said they will increase northbound cargo rates, effective Jan. 1.
The rate increases will be $200 per 20-foot container and $300 per 40-foot container. A peak season surcharge of $350 per container on all northbound reefer shipments will also be applied from Jan. 1 to May. 31.
The conference said it expects to increase rates again on April 1.
“The lines have had to do this because the increasing volumes of reefer cargoes destined to Europe far exceed the southbound reefer trade. This imbalance is particularly extreme between January and May, when lines have to position an extraordinary amount of empty equipment to serve the demands of the export trade,” the conference said in a statement.
Conference’s members are CMA CGM, CSAV, Hamburg Sud, Hapag-Lloyd, “K” Line and P&O Nedlloyd.
European/South America carriers raise rates
