French shipping giant CMA CGM has announced a rate increase of US$1,200 per TEU for all cargo from all Asian origins to North Europe destinations effective January 1.

This comes on the heels of a range of CMA CGM rate increase totalling US$1,200 TEU for the three rate hikes this month and next.

First there was 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.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.

And 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.