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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