Peak indicator: $2,600 increase on one U.S. shipping service

It’s that peak time of year, and ocean carriers are shaking off months of uncertain demand with an array of peak season surcharges and other price hikes across a range of services.  

French carrier CMA CGM this week announced one of the biggest, a whopping $2,600 increase on 40- and 45-foot containers moving from the East Mediterranean to U.S. East Coast ports.

The world’s third-largest box carrier gave no specific reason other than a statement that the surcharge comes “[i]n a continued effort to provide our customers with reliable and efficient services.”

Demand is surging as the peak season gets underway. SONAR‘s Ocean Volume Index has risen to 65,346 from 49,032 since May 4.

The surcharge for dry cargo is effective July 1 for shipments originating in Turkey, Greece, Lebanon, Bulgaria, Egypt, Syria, Georgia, Ukraine, Romania, Croatia, Albania, and Slovenia destined for U.S. East Coast ports and inland points.

Another peak season surcharge, from the West Mediterranean to U.S. East Coast ports, isn’t quite as pricey at $1,000 per container. 

FreightWaves has reached out to CMA CGM for comment.

Read more articles by Stuart Chirls here.

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