French Container Line CMA CGM has announced an increase in freight rates in the Europe to Australia and New Zealand in order to “restore freight rates to a sustainable level.” The move follows in the footsteps of a similar rate hike on trade between India/Pakistan and Europe by the carrier last week.

The increase quantum for the Europe to Australia and New Zealand trade
will be as follows: Southbound from Europe to Australia and New Zealand:

$300 per teu, effective September 15, 2009 Northbound from Australia
and New Zealand to Europe:  $200 per teu, effective September 15, 2009

The company added that since August 15, 2009, an increase of $175 per
teu has also been applied to all cargo moving southbound from the US
East Coast and the US Gulf Coast to Australia and New Zealand.

Source: SeaTrade Asia Online

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