Spot Rate Changes
· On September 9, 2021, CMA CGM announced they will stop all spot rate increases effective immediately through February 1, 2022. This is after a year of increasing spot freight rates, driven by congestion and a high demand.
· CMA has also confirmed with new vessels purchased and some second-hand vessels acquired over the last 15 months they have increased their container fleet TEU to 780,000 TEUs. CMA CGM has also confirmed the changes made are being done in order to prioritize long term relationships with their customers.
· It is unclear how much of an affect this decision by CMA CGM will influence other carriers in this unprecedented market. However the hope is this is the first step in the right direction in putting customer’s first by a major carrier.
Tuesday September 14, 2021
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