CMA CGM freezes its spot freight rates

Par ediallo - 13 September, 2021 - 22:00

The decision is historic. Faced with the constant rise in shipping prices, CMA CGM is suspending all increases in spot freight rates on all its lines, including all brands (CMA CGM, CNC, Containerships, Mercosul, ANL, APL), until February 1st.

Spot rates are negotiated for less than 30 days, unlike long-term contracts: these rates follow the evolution of market indices.

By freezing its rates at a time when they have reached a high level, CMA CGM, the world's third largest player in the field, wishes to "give priority to a long-term relationship with its customers in the face of an unprecedented situation for maritime transport".

Another shipping company, Hapag-Lloyd (5th worldwide) has also frozen its rates since September 10.