Freight Rate Roundup: Maersk, CMA CGM and Hapag-Lloyd

Ocean carriers Maersk Line, CMA CGM and Hapag-Lloyd issued freight rate increases.    Ocean carriers Maersk Line, CMA CGM and Hapag-Lloyd issued freight rate increases.
   Maersk Line announced increased FAK rates from:
     • The Middle East to the East Coast of South America effective Dec. 1 until further notice, but not beyond Dec. 31.
     • The Mediterranean to Far East Asia Dec. 1 until further notice, but not beyond Dec. 31.
     • North and West India to East Africa effective Dec. 1 until further notice but not beyond Dec. 31.
     • North Europe to the Middle East and Indian Subcontinent effective Dec. 1 until further notice, but not beyond Dec. 31.
   In addition, Maersk Line announced an increase in FAK rates and traded commodity rates (wood, pulp and timber) from North Europe to Far East Asia effective Dec. 1 until further notice, but not beyond Dec. 31.
   CMA CGM announced new FAK rates from Asia to North Africa effective Nov. 15 until further notice.
   In addition, the French carrier implemented an emergency rate restoration from all Asian ports (including Japan, Southeast Asia and Bangladesh) to all Northern European ports (including the United Kingdom and the full range from Portugal to Finland/Estonia) for all cargo effective Nov. 15. Rates will increase by $200 per TEU.
   CMA CGM will also increase rates from all Asian ports to all Middle East Gulf ports for all cargo. On Nov. 15, rates will increase by $200 per TEU, and on Nov. 22, rates will increase by an additional $200 per TEU.
   Hapag-Lloyd issued general rate increases from:
     • East Asia to the East Coast of South America for all cargo and container types effective Nov. 15. Rates will increase by $500 per TEU.
     • East Asia to the Caribbean, the East Coast of Central America, Panama, the Gulf of Mexico and Progreso for all cargo and container types effective Dec. 15. Rates will increase by $1,050 per TEU container and $1,500 per FEU container.
     • East Asia to Mexico, the West Coast of Central America and the West Coast of South America for all cargo and container types effective Dec. 15. Rates will increase by $750 per TEU container and $1,500 per FEU container.
   Hapag-Lloyd announced increased FAK rates from North Europe and the Mediterranean to South Africa for all 20-foot and 40-foot general purpose containers (including high cube containers), as well as 20-foot and 40-foot reefer containers effective Dec. 10 until further notice.