MARSEILLES shipping giant, CMA CGM, trying to boost pricing on the beleaguered westbound shipping out of Asia, will apply a general rate increase on cargo moving on its Epic Service from India to Europe and the Mediterranean, starting August 14.
The French shipping company's rate increase will be US$200 per TEU and US$400 per FEU.
Spot rates from Shanghai to Europe fell to as low as US$800 per FEU in July before regaining some ground in the last week, reported Newark's Journal of Commerce, citing the Shanghai Container Freight Index (SCFI).
The Epic is a fixed-day weekly service, calling at Southampton, Rotterdam, Hamburg, Antwerp, Le Havre, Piraeus, Khor Fakkan, Jebel Ali, Port Qasim, Nhava Sheva (Jawaharlal Nehru), Mundra, Jeddah, Malta, Tangiers and back to Southampton.
