The 3rd info summary in April

Written at the beginning - The following information is compiled by me from official info from various carriers, with the sole purpose of helping my friends& customers understand the market. I will not comment on the article, nor will I use this information to increase ocean fees. Because inquiries vary, I will always make the most personalized solution based on the facts.

Major shipping companies have announced a new round of freight rate adjustment plans. Starting from May, shipping companies including MSC, Maersk, CMA, COSCO, Hapag-Lloyd, HMM and other shipping companies will continue to adjust rates involving Europe, the Mediterranean and North America.

If the major shipping companies successfully implement the comprehensive rate surcharge (GRI) price increase plan in May, based on current freight rates, it is expected that the freight rate for the US West route will increase by at least 30%, while the increase for the US East route will also be will exceed 23%. Industry analysts pointed out that although GRI's price increase may not be fully realized, it undoubtedly shows that the container shipping industry has the confidence to increase prices and is unwilling to accept the status quo of low-cost freight. This trend indicates that a new round of freight rates is expected to be strongly supported.

A) MSC adjusts FAK rates from Far East to Northern Europe

MSC Mediterranean Shipping Company recently announced that starting from May 1, 2024, but no later than May 14, it will implement new FAK rates from all Asian ports (including Japan, South Korea and Southeast Asia) to Northern Europe. The specific notice is as follows:

B) Maersk raises FAK rates from Far East to Mediterranean and Northern Europe

C) CMA CGM adjusts FAK rates from Asia to Northern Europe

CMA CGM’s official website announced on the 15th that the new FAK rate will be implemented from May 1, 2024 (shipping date) until further notice. USD 2,200 per 20-foot dry box, USD 4,000 per 40-foot dry box/high box/refrigerated box. The specific notice is as follows:

POL: from all Asian ports (including Japan, Southeast Asia and Bangladesh)

POD: to all Nordic ports (including UK and the full range from Portugal to Finland/Estonia)

Container type: dry box, OOG, paid empty box & refrigerated box

Implementation date: Starting from April 15, 2024 (loading date at the POL) until further notice

D) Hapag-Lloyd adjusts FAK rates from Far East to Northern Europe and Mediterranean

Hapag-Lloyd’s official website announced on the 17th that starting from May 1, 2024, FAK rates between the Far East to Northern Europe and the Mediterranean will be adjusted, involving 20-foot and 40-foot dry boxes, including high containers and refrigerated containers. This rate adjustment takes into account the cost of marine fuel recovery (MFR) and is subject to relevant freight rules and surcharges. The specific notice is as follows

E) COSCO Announces Increase in GRI for U.S. Lines

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 container: $2,250

Per 45-foot container: USD 2,532

The above fees apply to:

For all cargo arriving at U.S. West Coast ports via all-water transport, as well as intermodal cargo shipped through these ports to California, Oregon and Washington.

For all intermodal and land bridge cargo shipped through U.S. West Coast ports and Canadian ports to areas outside California, Oregon and Washington.

For all cargo arriving at U.S. East Coast and Gulf of Mexico ports via all-water transport, as well as all intermodal cargo transported through these ports.

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:

Per 20-foot container: USD 1,800

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:

F) HMM raises GRI from Asia to North America and Mexico

HMM’s official website issued a notice stating that it will implement the new GRI on all services originating from the United States, Canada and Mexico starting from May 15, 2024. The specific notice is as follows:

G) ZIM imposes new fuel charges

ZIM Lines’ official website issued a notice 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/Black Sea and The charging standard in Europe is US$718/TEU. About three times that of any of its other carriers.