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Latest CMA CGM rate boost: Europe, Australia and NZ

Marseilles: French Container Line CMA CGM has announced an increase in freight rates in the Europe to Australia and New Zealand in order to "restore freight rates to a sustainable level." The move follows in the footsteps of a similar rate hike on trade between India/Pakistan and Europe by the carrier last week.

The increase quantum for the Europe to Australia and New Zealand trade will be as follows:

Southbound from Europe to Australia and New Zealand:
$300 per teu, effective September 15, 2009

Northbound from Australia and New Zealand to Europe:    
$200 per teu, effective September 15, 2009

The company added that since August 15, 2009, an increase of $175 per teu has also been applied to all cargo moving southbound from the US East Coast and the US Gulf Coast to Australia and New Zealand.  [24/08/09]

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