French line to hike rates as Asia-EU bites

CMA CGM Group has announced a new rate restoration programme that it plans to impose from July 1.


The French line said in a statement that in response to the on-going deterioration of revenues on the Asia-North Europe Trade, the CMA CGM Group will hike rates by US$275 per TEU on all shipments from Asia (including Bangladesh and Sri Lanka) to North Europe (including UK and Baltic countries).


The line warned that "further adjustments might follow at a later stage to raise our revenues at a sustainable level again".


Other rate hikes were:


- Asia-East Coast of South America, and Asia-West Coast of South America, Central America and Mexico - $500 per TEU;
- Asia-Caribbean and Panama - $490 per TEU/$700 per FEU;
- Asia-Mozambique (including landlocked countries serviced via Mozambique corridors) - $200 per TEU on all shipments;
- North Europe-Mexico Gulf, for all shipment except reefers - $150 TEU/$225 FEU:
- Pakistan and India-North Europe and Mediterranean - $250 TEU/$500 FEU;
- Arab Gulf -North Europe and Mediterranean - $150 TEU/$250 FEU.
(Source:http://www.cargonewsasia.com)