CMA CGM hikes freight rates from Asia; slaps container surcharge in the Americas

Shipping giant CMA CGM has announced a hike in freight rates of all kinds (FAK) beginning 15 November 2024, from Asia to Mediterranean and North Africa. It also imposed a surcharge on container rates across US, South American and Canadian ports beginning 1 December 2024.

The new rates will apply to all cargo from major Asian ports to destinations across all Mediterranean base ports. The rates will apply to all cargo loadings beginning 15 November, the company stated.

The new rates ($) for 20’ and 40’ containers are:

Ports of origin 20' 40'

West Mediterranean 3,800 5,700

Adriatic 4,050 5,900

East Mediterranean 3,900 5,800

Black Sea 4,000 5,900

Algeria 5,100 7,900

Llbya 4,900 7,500

Tunisia 5,000 7,600

Morocco 4,200 6,700

These new FAK rates will be applicable to all cargo, including dry, OOG and paying empties, CMA CGM stated.

CMA CGM also announced the addition of a surcharge on container freight rates from ports on the West Coast of South America to US East Coast and the Gulf of Mexico, as also from West Coast of South America and East Coast of Central America to St John, Canada, as part of a rate restoration initiative.

Accordingly, cargo rates from South America West Coast to US East Coast and US Gulf will go up by $250 per container.

There will be a $100 per container increase for all cargoes from South America West Coast and Central America East Coast to St John, Canada.

CMA CGM Group also alerted customers about increase in fraud attempts by hackers using CMA CGM identity. The company said the hackers often ask customers to pay CMA CGM invoices on a different bank account, instead of the original account, to divert the payment.

Hackers also might intercept a genuine conversation between the customer and CMA CGM and replace CMA CGM’s email by a fake email, it said.

Also, these fraudsters use direct calls or social networking channels requesting an urgent payment for their company due to personal sickness, emergency, financial distress, etc, it added.