The surge in container freight rates initially observed on the Asia-Europe trade route and then affecting the transpacific is now poised to impact transatlantic shippers. Spot rates from North Europe to the US East Coast have remained below par for an extended period, a notable drop from the pre-pandemic. The recent announcement from Maersk regarding a Peak Season Surcharge (PSS) from North Europe to the US and Canada, effective from February 5, reflects the dynamic market situation disrupting global trade.
CMA CGM has initiated a “rate restoration initiative” for the trade from European ports to the US, Canada, and Mexico starting January 21. These PSS and rate restorations, combined with previously planned General Rate Increases (GRIs), are expected to impact container spot rates immediately despite weak demand on the transatlantic route.
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