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CMA CGM to stop further increases in spot freight rates

CMA CGM to stop further increases in spot freight rates
The company has increased its fleet capacity by 11% since the end of 2019

CMA CGM has decided to stop any further increases in spot freight rates until February 1, 2022, to prioritise its long-term relationship with customers.

Container shipping spot freight rates have continued to rise since the beginning of 2021 due to port congestion and the major imbalance between demand and maritime container transport effective capacity.

Although market-driven rate increases are expected to continue in the coming months all services under the CMA CGM brand (CMA CGM, CNC, Containerships, Mercosul, ANL and APL) will not see any further increases.

The Group is also investing heavily to strengthen its service offering, increasing 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 French company has also increased its container fleet by 780,000 teu.

Through these measures, the carrier aims at strengthening its valuable customer relationships and providing support as they navigate today’s difficult supply chain challenges.