French shipping giant CMA CGM has announced that a US$100 per TEU rate increase for all cargo from Asian ports to all Middle East Gulf ports to take into effect December 15.

"In order to maintain its service quality on CIMEX Lines, CMA CGM Group informs its customers of a Rate Restoration Programme in two successive steps," said the company in a notice to trade.

The second step will come with a rate increase effective from January 7 for all cargo from Asian ports to all Middle East Gulf ports of $150 per TEU.

This came after a December 4 announcement of a $950 per TEU rate increase for cargo from Asia to north Europe will go into effect December 14.