Freight rates rose for two consecutive years, and shipping companies announced price increases on November 15
When a number of ports in Canada were shut down and routes were disrupted, the shipping market was rocked again. In mid-October, shortly after the major ship companies released the freight rate increase in November, the shippers and freight forwarders have not yet been delayed, MSC, Maersk, CMA, Hapal-Lloyd, ONE and other shipping companies continue to adjust the rates of Europe, the Mediterranean, Africa, Australia and New Zealand routes, and successively announced the tariff adjustment plan from November 15.
Shanghai export container freight Index (SCFI) shows that the freight index has risen twice, and the four main routes have shown an upward trend, especially the Far East to the Mediterranean and the Far East to Southeast Asia, the freight increase is more than 10%, and the price increase is very obvious.
MSC announced the adjustment of the Far East to Europe, the Mediterranean, North Africa and other rates
MSC announces new Diamond Class (DT) rates for exports from Asia to Europe, effective from 15 November 2024, but not later than 30 November 2024, from all Asian ports (including Japan, Korea and Southeast Asia) to Northern Europe (in US dollars). Details are as follows:
At the same time, MSC announced that the new FAK rates for trade from the Far East to the Western Mediterranean, Adriatic, Eastern Mediterranean, Black Sea and North Africa are effective from November 15, 2024, but not later than November 30, 2024, from all Asian ports (including Japan, Korea and Southeast Asia) to Europe, the new rates are calculated in US dollars. Details are as follows:
CMA CGM adjusts FAK rates from Asia to Mediterranean and North Africa
CMA CGM has announced that it will adjust the FAK (regardless of cargo class rates) on routes from Asia to the Mediterranean and North Africa. The adjustment will be effective from November 15, 2024 (date of loading) and will continue until further notice.
According to the announcement, the new FAK rates will apply to shipments from Asia to the Mediterranean and North Africa regions, with a maximum freight rate of $5,100 for a 20-foot standard container and $7,900 for a 40-foot and tall container.
Hapag-lloyd increases FAK rates from the Far East to Europe
Hapag-lloyd has announced that it will increase FAK rates on its Far East to Europe routes. This rate adjustment applies to cargo transported in 20 - and 40-foot dry boxes and reefer containers, including tall box types. The announcement clearly states that the new rates will be effective from November 15, 2024. The specific charges are as follows:
Maersk imposes a multi-place peak season surcharge PSS
- Maersk imposes peak season surcharge PSS from China to African countries
Maersk issued a statement saying, High season surcharges will be increased from China, Hong Kong, China to Nigeria/Burkina Faso/Benin/Ghana/Cote d 'Ivoire/Niger/Togo/Angola/Cameroon/Congo/Democratic Republic of the Congo/Equatorial Guinea/Gabon/Namibia/Central African Republic/Chad/Guinea/Mauritania/Gambia/Liberia/Sierra Leone/Cape Verde Islands/Mali ( PSS) with effect from 11 November 2024. All 20 ', 40 'and 45' tall boxes. The collection criteria are as follows:
- Maersk imposes peak season surcharge PSS to Australia, Papua New Guinea and Solomon Islands
Maersk adjusted the high season surcharge PSS from the Far East to Australia, Papua New Guinea and Solomon Islands, effective November 15, 2024. The collection criteria are as follows:
- Maersk imposes peak season surcharge PSS from the Far East to New Zealand, Fiji, French Polynesia and so on
Maersk adjusted the collection of the Far East to New Zealand, Fiji, French Polynesia and other peak season surcharge PSS, the collection standard is as follows:
Although the current cargo volume is flat, industry analysts pointed out that European routes are affected by multiple factors such as ship control policies, disruption and suspension of some routes, and market freight rates have rebounded. However, it remains to be seen how long the rebound can be sustained.
Sungreen Logistics especially reminds the majority of shippers that the current market freight fluctuations and significant increases, it is recommended to make shipment plans as soon as possible to avoid affecting the shipment timing. If there is a need for cargo transportation, Shun Xin Logistics will be happy to provide you with professional logistics services and customized solutions.
