CMA CGM has announced that it has taken the decision to stop all spot rate increases in order to foster customers’ relationships during a difficult situation in the shipping industry. This measure is effective from September 9, 2021, and until February 1, 2022.
Since the beginning of 2021, container shipping spot freight rates have continued to rise due to port congestion and the major imbalance between demand and maritime container transport effective capacity. Although these market-driven rate increases are expected to continue in the coming months, the Group has decided to put any further increases in spot freight rates on hold for all services operated under its brands including CMA CGM, CNC, Containerships, Mercosul, ANL, APL.
The company said it is also investing to strengthen its service offering. For example, it has increased the capacity of its operated fleet by 11% since December 31, 2019, through the addition of new vessels and the purchase of second-hand vessels. Over the last 15 months, the Group has also increased its container fleet by 780,000 TEUs.
Source: CMA CGM
