Photo: Hummelhummel, CC BY-SA 3.0, via Wikimedia Commons

CMA CGM publishes new Asia-Europe FAK rates

CMA CGM has recently announced its new Freight All Kinds (FAK) rates from all Asian ports to all North European ports.

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The new freights apply from December 1st, 2023 (loading date) until further notice, and are as follows:

 

20’GP 40’GP/40’HC/40’REEFER
Asia to North Europe USD 1,000 USD 1,800

 

Other major ocean carriers are set to implement substantial FAK rate increases on key east-west trade routes in November and December, according to a recent report from Transport Intelligence.

DHL’s November market update highlights estimated costs, potentially reaching $9 to $10 billion, while Hapag-Lloyd’s recent Asia-North Europe FAK rates of $1,800 per 40ft, starting November 1, along with strategic capacity management, are impacting the ocean freight market. Despite this, Asia-North Europe container spot indices have remained unchanged in November, hovering just below $1,000 per 40ft, notes Ti.

Hapag-Lloyd also faced a decrease in earnings during the first nine months of 2023, primarily driven by a decline in freight rates in the third quarter, as revealed by the company’s latest financial report.


Photo: Hummelhummel, CC BY-SA 3.0, via Wikimedia Commons

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