CMA CGM in US-Asia rate restoration initiative from Oct.

As costs of bunker fuel, logistics and M&R continue to rise to record levels and to close the gap between breakeven and market rates, CMA CGM has decided to file a Rate Restoration Initiative (RRI) for reefer containers from the United States to Asia, effective 1 October.

The above Rate Restoration Initiative will be applied as follows:

Effective 1 October, 2012: From US to Asia USD 711 per 20’ RF and USD 1000 per 40’ RH. Expected rate levels for citrus and protein in the upcoming seasons will be as follows: Concerning citrus cargo: From US West Coast to Hong Kong

USD 3600 per 40’ RH & DTHC; From US West Coast to China, USD 3900 per 40’ RH. Concerning protein cargo: From US East Coast to Hong Kong, USD 3500 per 40’ RH & DTHC; From US East Coast to China

USD 3800 per 40’ RH.  

While CMA CGM appreciates that this is a significant increase, it will enable the Group to maintain the service levels that clients require and allow the Group to continue investing in refrigerated assets.