Freight rates are soaring! Hapag-lloyd, CMA CGM, Maersk announced price increases in November
Although the strike in the eastern port of the United States lasted only three days, the spillover risk brought by the strike affected the entire shipping market and neighboring countries. Just recently, a number of shipping companies announced a new round of tariff adjustment plans, Maersk, Hapag-Lloyd, Wanhai and other shipping companies have adjusted the rates of some routes, involving the Mediterranean, South America, near-ocean routes and so on.
Maersk announces FAK increase for Far East to Mediterranean
Maersk announced on October 10 that in order to continue to offer a broad portfolio of high-quality services, it will increase FAK rates from the Far East to Northern Europe and the Mediterranean from November 4, 2024.
Among them, the maximum container for the Far East to Northern Europe route will be raised to $4,900, and the maximum container for the Far East to Northern Europe route will be raised to $5,700.
Hapag-lloyd upgraded Asia to Latin America GRI
Hapag-roth has announced that GRI rates from Asia to the West coast of South America, Mexico, Central America and the Caribbean will increase effective November 1, 2024, and remain in effect until further notice.
This GRI will apply to 20-foot and 40-foot dry cargo containerized cargo (including tall boxes and 40-foot non-operating reefers) at a standard of $2,000.
Meanwhile, on October 11, Hapag-Lloyd also announced the imposition of a peak season surcharge (PSS) of US $1,000 /TEU from Asia to Mombasa, Kenya and Dar es Salaam, Tanzania, effective October 24 until further notice.
Wan Hai raised the freight on the Asian ocean route
Wanhai announced that due to the rising operating costs of the company in the near future, the freight rate of the cargo exported from China to Asia (near the ocean section) is now increased: the increase rate is USD 50/100/100 for 20'/40'/40'HQ, effective weekly WK43, please confirm with the offices.
Cma CGM raises FAK rates from Asia to Europe
Cma CGM issued a customer announcement on October 10 announcing new FAK rates to Europe from all Asian ports, including Japan, Southeast Asia and Bangladesh, effective November 1, 2024.
Industry analysts believe that whether the freight rate can rise successfully, also depends on the amount of booking before the end of the month. Due to the shortage of market goods, shipping companies have a strong willingness to price, and they are currently holding a wait-and-see attitude toward price increases.
Sungreen Logistics reminds that the current market freight fluctuations are obvious, shippers should make shipment plans as soon as possible to avoid affecting the shipment timing. If you have shipping needs, we will provide you with professional logistics services and solutions.
