CMA CGM hikes freight rates

Effective March 3, shipping firm CMA CGM decided to raise freight rates on its trade from northern Europe to India and Pakistan.

The firm would raise the tariff by $150 per 20-foot dry container and $200 per 40-foot dry container. Effective March 15, the ocean carrier will hike rates from all Asian ports to the east and west Mediterranean and Black Sea by $650 per Twenty Foot Eqiuvalent Unit (TEU).

Starting March 15, the firm raised rates by $500 per TEU from Asia to the east and west coasts of South America, Mexico and the west coast of Central America.

Also beginning March 15, the firm raised tariff by $560 per 20-foot container and $800 per 40-foot container from Asia to the Caribbean.

For shipments from all Asian ports to Sokhna, Egypt, the shipping firm decided to impose a port congestion surcharge of $250 per TEU. The surcharge is effective from the departure of the YM Seattle voy. RE919W, initially scheduled to call Sokhna in the sixth week of 2013.