MSC raises freight rates on Europe and Mediterranean routes by up to $5,000

After Maersk, CMA CGM, Hapag-Lloyd, Wan Hai and other sea liners announced the adjustment of freight rates on many major routes (see previous articles), on October 14, MSC announced an increase in FAK rates on the Far East to Western Europe and Mediterranean routes.

On October 14, MSC announced that the new Diamond (DT) rates, which will take effect on November 1, 2024 (but no later than November 14, 2024), will apply to cargo exports from Asia to Europe. The new rates cover routes from all Asian ports (including Japan, South Korea and Southeast Asia) to Northern Europe, unless otherwise specified. 20-foot CNTRs are US$3,000 and 40-foot CNTRs are US$5,000.

All rates are calculated in US dollars and are based on the billing standards from base port to base port. The export port will follow the conventional TAO/TAD rules.

On the same day, MSC also announced that it would implement new FAK rates for routes from Asia to the Mediterranean. The new rates will take effect on November 1, 2024 (but the implementation date will not be later than November 14, 2024) and will apply to routes from all Asian ports (including Japan, South Korea and Southeast Asia) to the Mediterranean, unless otherwise stated.

Among them, the 20-foot CNTR to the Western Mediterranean, Adriatic Sea, and Eastern Mediterranean is US$3,150, and the 40-foot CNTR high CNTR is US$4,500. The 20-foot CNTR to the Black Sea is US$3,200, and the 40-foot CNTR high CNTR is US$4,600.

All rates are calculated in US dollars. And based on the billing standards from basic port to basic port. The export port will follow the conventional TAO/TAD rules.