CMA CGM to stop all spot freight rate increases

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The shipping industry and particularly exporters and importers have been subject to heavy freight rate increases since the 3rd quarter of 2020 increasing from around $2,032/40′ in September 2020 to $10,519/40′ in September 2021.

Many customers have been complaining about the attitudes of shipping lines who they claimed were breaching contracts and demanding higher spot freight rates.

Perhaps taking cognisance of this, CMA CGM, the world’s fourth largest container shipping line has taken a decision to stop all spot rate increases.

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Increase in freight costs – a UK freight forwarder’s perspective

6 Simple Ways to Optimize Your Freight Shipments..

Mass container shortage has disrupted international supply chains and seen the cost of freight and shipping increase exponentially across all sectors.

While it may be easy to blame this single factor for an increase in freight cost, many more factors have contributed to the inflated prices we are currently seeing across the sector.

So what are some of the other reasons that prices can’t seem to slow down? 

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Ocean Freight rates 2021, an Indian perspective

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2020 will be remembered by many as one of the years that has caused maximum upheaval in terms of freight rates, space and equipment capacity in all markets around the world.

While the impact on the Trans-Pacific and Trans-Europe has been the maximum, other trades like the India trade has also been affected quite substantially.

These never before seen steep increases especially on the exports, has sent the export community in India into a frenzy as shipping lines continue with the increases one after the other.

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Freight benchmarking and its benefits

freight benchmarking

Benchmarking – is a business tool used by companies to evaluate and compare the current position and standing of the company against similar companies and organisations in the same business space in the market..

The point of benchmarking is to identify opportunities for improvement of your products and services by comparing your company’s performance, processes, costs against a bigger and better market competitor..

This could mean tweaking your company’s products/services to match the competitor’s offering in the market or by improving your scope of services..

Freight benchmarking is a benchmarking tool in the shipping and freight industry used by various role players in the industry such as BCOs, freight forwarders and shipping lines..

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