Mid-December Rate Hikes! Maersk, Duffy, Hapag-Lloyd, And COSCO Sea Raise FAK Rates.
Nov 28, 2023
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Recently, shipping companies Maersk, Duffy, COSCO Sea, Hapag-Lloyd, and other shipping companies have begun a new round of price increases announced for the Asia-to-Northern Europe routes to increase FAK rates.
Recently, shipping companies Maersk, Duffy, COSCO Sea, Hapag-Lloyd, and other shipping companies have begun a new round of price increases announced for the Asia-to-Northern Europe routes to increase FAK rates.
Maersk raises FAK rates from Asia to Northern Europe
Maersk has increased FAK rates for containers from Far East to North European ports effective December 18th. The specific rates are as follows:
CAM CGM increases Asia to Mediterranean and North Africa, Asia to North Europe FAK rates
On November 24, CAM CGM increased its FAK rates from Asia to the Mediterranean and North Africa for dry, OOG, paid-empty, and reefer containers. It is effective from December 15, 2023 (the loading date) until further notice. The specific tariffs are listed below:
Meanwhile, effective December 15, CAM CGM has increased FAK rates on Asia-to-Northern Europe routes. This applies to dry containers, OOG, paid empty containers, and reefer containers from Asian ports (including Japan, Southeast Asia, and Bangladesh) to all Nordic ports (including the United Kingdom and the entire route from Portugal to Finland and Estonia).
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COSCO Announces Nordic Rate Increase Effective December 15
COSCO has also announced an increase in rates from the Far East to North Europe, effective December 15th. Details are as follows:
Hapag-Lloyd Increases FAK Rates for Far East-North Europe and Mediterranean Sea Routes
Hapag-Lloyd Increases FAK Rates for Far East-North Europe and Mediterranean Sea Routes
On November 24, Hapag-Lloyd announced that, effective December 15, it will increase the FAK rates for Far East-North Europe and Mediterranean Sea round-trip shipping, applicable to 20-foot and 40-foot containers (including tall containers and reefer containers). The specific rates are as follows:
The fourth quarter is usually a slow season for the European and American markets, but this year there were a large number of new vessels launched, leading to an imbalance between market supply and demand and placing higher demands on the shipping industry's capacity control. It is necessary to sacrifice the loading rate as well as maintain the stability of freight rates. According to Sea-Intelligence's research and analysis, both the trans-Pacific route and the Asia-Europe route are facing serious overcapacity problems. Whether this round of price hikes will be successful or not, we will have to wait and see!