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Kolkata, June 4 CMA CGM, France’s number one and the world’s number three container line, has announced a series of rate increases on the Asia-Europe trade where, according to the company sources, the carriers have been losing money almost on every trip since last winter because of rock-bottom freight rates.

The proposed increases will apply to basic freight, bunker surcharge and possibly to peak season rates.

From July 1, as the sources point out, the basic freight will increase $300/TEU to be applicable to all cargo and commodities moving westbound from Asia to Europe.

From the same date, the shipping line will also begin invoicing its shippers for higher bunker adjustment factor (BAF) separately from the freight and the applicable BAF on the Asia-Europe trade will increase from $281 to $333/TEU, reflecting the higher price of oil in the world market. It may also decide to implement a PSS (peak season surcharge) on the same trade from August 1.

More Stories on : Shipping/Ports | Foreign Trade

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