ShippingWatch

CMA CGM freezes spot rates until February 2022

CMA CGM, the world's third largest container carrier, introduces a complete halt to the increase of spot rates, with immediate effect. The carrier is prioritizing long-term business relations with its customers.

Photo: PR / CMA CGM

French container major CMA CGM has decided to freeze the spot rates in the pressured container market, which has undergone continuously rising freight rates for 17 weeks in a row and seen bottlenecks in major ports and a shortage of containers.

The measure is effective immediately and so far scheduled to run until February 1, 2022, informs the French carrier in a customer update.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Reefer rates to peak in fall season, followed by slow decline

Rates on refrigerated containers, or reefers, have increased by 50% in the second quarter compared to the same period in 2021, with growth set to continue in the third quarter. 2023, however, will see rates slowly declining, forecasts consultancy Drewry.

Further reading

Related articles

Latest news

See all jobs