COSCO Shipping announced that it will increase the GRI of the US line, effective on May 15! MSC/CMA/HPL also ushered in a wave of price increases

United States: Effective May 15, 2024, subject to rates and service contracts, all flights from the Far East, Indian subcontinent countries, Middle East countries and Oceania countries including: Australia, Bahrain, Bangladesh, Brunei, Myanmar, Cambodia, China, India , Indonesia, Japan, Jordan, South Korea, Kuwait, Hong Kong, Macau, Malaysia, New Zealand, Pakistan, Philippines, Saudi Arabia, Singapore, Sri Lanka, Qatar, Taiwan, Thailand, Vietnam, Yemen to the United States/all U.S. destinations The GRI is as follows:

Per 20-foot container: USD 1,600

Per 40-foot container: USD 2,000

Per 40-foot high cabinet: $2,250

Per 45-foot container: USD 2,532

The specific notice is as follows:

Canada: Increase GRI for intermodal cargo from the Far East to Vancouver/Prince Rupert and via Vancouver/Prince Rupert, as well as all-water transport on the East Coast and intermodal cargo via the East Coast. details as follows:

Hapag-Lloyd announced on the 4th that starting from April 15, it will increase the FAK rate on the route from Asia to Northern Europe to US$3,000/FEU. Subsequently, CMA CGM followed up on the 5th and raised the FAK rate for this route to US$4,000/FEU.

Also from April 15, Hapag-Lloyd has implemented new FAK rates for Western Mediterranean and Black Sea ports, which are US$3,700/FEU and US$4,100/FEU respectively. CMA CGM further increased these rates to US$4,200 and US$4,400 respectively.

MSC also plans to adjust FAK rates on the Mediterranean and Black Sea routes from April 15. It is worth noting that its FAK rate for the Asia to Western Mediterranean route is relatively high, reaching US$4,800/FEU, while the rate for the Black Sea route is US$5,100/FEU. These measures show the positive actions taken by major shipping companies to stabilize freight rates.

Mediterranean Shipping MSC issued an announcement on April 3 that starting from April 15, 2024, it will increase the FAK rates from all Asian ports (including Japan, South Korea and Southeast Asia) to the Mediterranean/Adriatic Sea/Black Sea until further notice. . The Western Mediterranean is US$4,800/FEU, and the Black Sea is US$5,100/FEU. details as follows:

The official website of German shipping giant Hapag-Lloyd announced on April 4 that starting from April 15, 2024, it will increase the FAK rate between the Far East, Northern Europe and the Mediterranean, involving 20-foot and 40-foot dry box transportation, including high-speed cabinets and refrigerated boxes. This rate adjustment takes into account the cost of marine fuel recovery (MFR) and is subject to relevant freight rules and surcharges.

On April 5, CMA CGM’s official website released the latest announcement stating that starting from April 15 (loading date), the new FAK rate from Asia to Northern Europe will be raised again to US$2,200 per 20-foot container. 40-foot containers include high containers and Refrigerator USD 4,000 until further notice:

At the same time, CMA CGM issued a notice on April 4 that from April 15 to 30, 2024 (the loading date at the departure port), it will adjust the shipping schedule from Asia to the Western Mediterranean, the Adriatic Sea, the Eastern Mediterranean, and the Black Sea. and North Africa (Algeria, Tunisia, Libya, Morocco) new FAK rates until further notice. Details are as follows:

Note that the French shipping giant announced that a contingency fee of $500 per TEU also applies.

The applicable conditions for the new FAK rate are as follows:

Port of departure: from all major Asian ports

Port of destination: to all Mediterranean basic ports (above areas)

Box type: Dry box, OOG and paid empty box

Implementation date: April 15 to 30, 2024 (loading date at port of departure) until further notice

ZIM Lines issued a notice on April 4 that starting from May 1, 2024, the updated new fuel factor (NBF) level will be implemented until further notice, applicable to FAK (all types of freight) cargo, including the Far East to the Mediterranean/ The charging standard for the Black Sea and Europe is US$718/TEU. About three times that of any of its other carriers.