Maersk and CMA CGM to increase freight rates by up to $1,000 per teu

Maersk Line has announced a freight rate hike of US$800 per teu while CMA CGM intends to up its rates by US$1,000 per teu on the Asia-Europe trade from 1 June.

This goes against the grain since total weekly capacity in the Asia-Europe trades is projected to increase by 9.1% in 2015 according to Alphaliner.

Maersk has significant influence in the Asia-Europe trades due to its 20% market share although it has lately been thwarted by overcapacity.