CMA CGM adds reefer surcharge for Yantian as freight rates soar

CMA CGM has joined Ocean Network Express (ONE) in implementing a surcharge for reefers bound for Yantian, China as it says due to congestion most reefer plugs are already occupied.

The France-headquartered container recommended changing the port of discharge and warned that otherwise it may be forced to reroute cargo. To cover the costs of rerouting shipments bound Yantian CMA CGM is implementing a $1,250 per reefer container surcharge.

 The surcharge was implemented on shipments from all ports to Yantian from 11 June, excluding regulated trades where the surcharge applies from 21 July.

Maersk has reported that the eastern area of the terminal at Yantian, which handles mainline vessels, is operating at 45% of its normal productivity.

With congestion due to heightened Covid-19 prevention measures also affecting the South China ports of Nansha and Shekou container lines are omitting calls and rerouting hundreds of sailings.

The congestion is also pushing up already record freight rates. Digital freight forwarder ZenCargo reported that transporting a 40-foot container of cargo from Shanghai to Rotterdam now costs a record $10,522.

The Shanghai Containerised Freight Index hit 3,703.93 points on 11 June, compared to 2,300 points in December 2020 and under 1,000 points in the early part of last year.

Related:ONE adds Yantian reefer surcharge, Maersk says delays of 16 days plus