Freight rate increase 100% over $6,000! Cma CGM: Significantly increase FAK rates on Asia-Mediterranean routes

At the same time, the Red Sea crisis is also continuing to push up freight rates. French shipping giant CMA CGM issued an announcement on January 2, announcing that since January 15, it will increase the FAK rate for containers from Asia to the basic port of the Mediterranean by up to 100%. Specifically, shipping rates for 40-foot-long containers will increase to $6,000 from $3,000 on Jan. 1. This adjustment will have a significant impact on the freight market in the region.

Cma CGM said that from January 15 (the date of loading at the port of origin), the FAK rate will be levied for dry containers, OOG special containers, reefers and paid empty containers from all major Asian ports to all basic Mediterranean ports including Western Mediterranean, Eastern Mediterranean, Adriatic Sea, Black Sea and Syria, at $3,500 - $3,650 for a 20-foot container. $6,000 - $6,300 for a 40-foot cabinet until further notice. The details are as follows:

Freightos' Levine says container rates on major trade routes from Asia are $5,000 to $8,000, 2.5 to four times higher than in previous years. It added that while the increase was significant, it was still 45 to 75 percent lower than at the end of the epidemic in 2021.

Freight rates have soared since Houthi militants in Yemen attacked ships in the Red Sea. As Maersk announced the suspension of the Suez Canal and Red Sea routes after the attack on Saturday night, Hapa-Lloyd announced on the evening of the 2nd that it would continue to sail around the Cape of Good Hope for a week until January 9, a spokesman for CMA CGM said that it had no information to add at present and was ready to reassess and adjust its plans as needed.