Freight Rate Roundup: Maersk, CMA CGM, Hapag-Lloyd, OOCL and MOL

Ocean carriers Maersk Line, CMA CGM, Hapag-Lloyd, OOCL and MOL issued freight rate increases.

   Ocean carriers Maersk Line, CMA CGM, Hapag-Lloyd, OOCL and MOL have announced freight rate increases.
   Maersk Line announced an increase in FAK rates from Asia to the West Coast of Central and South America, Mexico, Panama and the Caribbean effective Nov. 1 until further notice, but not beyond Nov. 14.
   The Danish carrier also issued increased FAK rates from Asia to the East Coast of South America effective Nov. 1 until further notice, but not beyond Nov. 14.
   CMA CGM announced new FAK rates from all Asian ports (including Japan, Southeast Asia and Bangladesh) to all Northern European main ports (including the United Kingdom and the full range from Portugal to Finland/Estonia) effective Nov. 1.
   In addition, the French carrier issued new FAK rates from North Europe to the Middle East and Red Sea effective Nov. 1 with end validity Nov. 30.
   Meanwhile, Hapag-Lloyd said for its general rate increase from the Indian Subcontinent and Middle East to the United States and Canada, which was originally scheduled to take effect Oct. 15, has been reduced and postponed to Nov. 4. In addition, the Middle East portion of the scope has been removed. Rates will increase by $240 per 20-foot standard container (unlike the originally stated amount of $960 per 20-foot standard container); and $300 per 40-foot standard container, 40-foot high cube container and 40-foot reefer container (unlike the originally stated amount of $1,200 for these three types of containers).
   The German carrier also announced a general rate increase from the North Continent to East Asia for harmless, non-high value cargo in food grade reefer containers effective Nov. 1. To East Asia base ports, rates will increase by $1,800 per 20-foot reefer container and $2,000 per 40-foot reefer container. To Japanese base ports, rates will increase by $1,900 per 20-foot reefer container and $2,100 per 40-foot reefer container.
   In addition, Hapag-Lloyd issued a general rate increase from East Asia to the East Coast of South America for all cargo and container types effective Nov. 1. Rates will increase by $500 per TEU.
   Hapag-Lloyd also announced increased FAK rates from the Middle East to North Europe and the Mediterranean for all cargo and standard container types effective Nov. 7.
   OOCL of Hong Kong said it is increasing rates from the Far East (excluding Japan) to North Europe, the Mediterranean and Black Sea effective Nov. 1. Rates will increase by $400 per TEU.
   MOL said it will implement a general rate increase from Asia to Mexico and the West Coast of South America for all kinds of cargo effective Nov. 1. Rates will increase by $750 per 20-foot general purpose container (GP), $1,500 per 40-foot GP and $1,500 per 40-foot high cube container for dry and reefer cargo.
   The Japanese carrier also issued a general rate increase from Asia (including the Indian Subcontinent) to the East Coast of South America for all cargo effective Nov. 1. Rates will increase by $750 per 20-foot dry container, $1,500 per 40-foot dry container, and $1,500 per 40-foot’RAD (NOR) container.