CMA CGM halts all spot rate increases until 1 February
CMA CGM Group has decided to put any further increases in spot freight rates on hold for all services operated under its brands, CMA CGM, CNC, Containerships, Mercosul, ANL and APL.
This measure is effective from 9 September 2021 and will last until 1 February 2022, according to the company's announcement.
Since the beginning of 2021, container shipping spot freight rates have continued to rise due to port congestion and the major imbalance between demand and maritime container transport effective capacity, according to the French carrier, which however took this decision, because it "is prioritising its long-term relationship with customers."
Additionally, CMA CGM said it is investing heavily to strengthen its service offering, as the group has increased the capacity of its operated fleet by 11% since 31 December 2019, through the addition of new vessels and the purchase of second-hand vessels.
Over the last 15 months, the Marseille-based shipping line has also increased its container fleet by 780,000TEU.
Source: Container News
Related News
08/12
2021
Mediterranean Shipping Company (MSC) has published fresh increases in its freight rates for sailings from Israel to Canada and Mexico.
19/01
2022
Not a happy start to the New Year for exporters and freight forwarders in India and Asia as the volatility of spot rates and contract rates continues to spill over in 2022.
17/11
2022
The normalisation in container rates has begun, according to ZIM president and CEO, who noted that his company's third-quarter and nine-month results reflect "outstanding execution and elevated profitability".