Beneficial cargo owners and carriers are beginning to negotiate multi-year contracts that use spot rate indexes to adjust rates periodically, but shippers, carriers and NVOs have been slow to trade futures based on indexes. Regardless, freight rates are not expected to be sustainable in the near-term, as record capacity is predicted for the upcoming year. TPM 2014 will feature discussions of instability in the freight rate market, among other issues in the container shipping industry.
Asia-Americas
Maersk Line plans to boost rates on cargo from the Middle East and Indian subcontinent, starting Feb. 15:
- For shipments to the U.S. and Canada, the hike will be $225 per 20-foot container, $300 per 40-foot container, $350 per 40-foot high-cube container and 45-foot container.
- For shipments to South and Central America, including Mexico and the Caribbean, the increase will be $200 per 20-foot container and $300 per 40-foot, 40-foot high-cube and 45-foot container.
On the same date, Evergreen aims to implement a rate hike on its trade from the Indian subcontinent to the U.S., Puerto Rico and Canada by $240 per 20-foot container, $300 per 40-foot container, $338 per 40-foot high-cube container and $380 per 45-foot high-cube container.
In the opposite direction, Evergreen also plans to introduce a rate hike on shipments from Canada to the Far East by $80 per 20-foot container and $100 per 40-foot, 40-foot high-cube and 45-foot container, starting Feb. 1. On Feb. 10, the carrier hopes to increase rates by the same amount on its trade from the U.S. and Puerto Rico to the Far East.
Australasia-Related
Three carriers hope to implement rate hikes in the Asia-Australasia lane on April 1:
- Maersk Line hopes to raise rates on shipments from the Far East to New Zealand by $300 per 20-foot container and $600 per 40-foot container.
- CMA CGM intends to boost rates on cargo from Asia to New Zealand on its ANZEX and ANZEX 2 services by $300 per TEU.
- Mediterranean Shipping Co. plans to increase rates on its trade from Asia to New Zealand by $300 per TEU.
On the same date, three container lines also intend to increase rates in the North America-Australasia route:
- Hapag-Lloyd plans to introduce a rate hike of $75 per 20-foot container and $150 per 40-foot container for shipments from the U.S. East Coast and the Pacific Northwest ports of Tacoma, Washington, and Vancouver, British Columbia, to Australia and New Zealand.
- CMA CGM hopes to hike rates by $75 per 20-foot container and $150 per 40-foot and 40-foot high-cube container on its trade from the U.S. East Coast to Australia and New Zealand.
- U.S. Lines aims to increase rates in its southbound trade from the U.S. East Coast and Port of Tacoma to Australia and New Zealand by $75 per 20-foot container and $150 per 40-foot container.
Europe-Asia
CMA CGM announced it expects to improve profitability through rate increases on its North Europe-Asia trade, effective March 1:
- For shipments to the Far East, the hike will be $250 per 20-foot container and $350 per 40-foot container.
- For shipments to the Persian Gulf and Red Sea, the increase will be $150 per 20-foot container and $250 per 40-foot container.
