CMA CGM raises U.S. export rates
French ocean carrier CMA CGM is raising rates on U.S. exports on the transpacific and transatlantic lanes.
From Sept. 1, rates will rise $150 per TEU and $300 per 40-foot equivalent unit for cargo departing terminals in Houston and Mobile on transpacific services. For all other U.S. ports, the rate hike is $25 per TEU and $50 per FEU. For cargo from inland point intermodal origins, the increase is $50 per TEU and $100 per FEU.
On transatlantic services, the increase is $240 per TEU and $300 per FEU for all container yard-to-container yard and inland point intermodal cargo.
CMA CGM said in a statement that the rate hike is needed to bring compensation 'to a more sustainable level.'
'We have implemented a rate restoration on these trades to be able to ensure the high level of reliability our customers have come to expect, sustain our services, and to maintain viable presence in the long term,' said Jean-Philippe Th'noz, vice president North America lines, CMA CGM Group.
A host of carriers, including the 10 members of the Westbound Transpacific Stabilization Agreement, have sought rate increases on U.S. export shipments. Among the carriers’ problems are repositioning costs of containers.