Freight News, Sea

Shipping line halts spot rate rises

[ September 10, 2021   //   ]

CMA CGM says it will stop all spot rate increases from 9 September until 1 February 2022, saying it is prioritizing long-term relationship with customers in the face of an unprecedented situation in the shipping industry. Since the beginning of 2021, container shipping spot freight rates have continued to rise due to port congestion and the major imbalance between demand and maritime container transport effective capacity. It says that although market-driven rate increases are expected to continue in the coming months, the Group has decided to put any further increases in spot freight rates on hold for all services operated under its brands including CMA CGM, CNC, Containerships, Mercosul, ANL, and APL.