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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