Recently, several shipping companies, including Maersk, MSC, CMA CGM, Hapag-Lloyd, and HMM, have announced multiple surcharge notices.

Traditionally, the fourth quarter is the low season for ocean freight. However, this year has been different. In addition to carriers cutting services to stabilize rates, Donald Trump’s formal election victory and impending return to the White House have sparked concerns over potential tariff barriers. This has led shippers to expedite shipments and slightly advance pre-Lunar New Year stocking timelines, keeping freight rates unexpectedly steady during the off-season.

Industry insiders note that as the Europe route annual contract negotiation period coincides with this time, shipping lines are particularly motivated to maintain stable rates.

Maersk

Recently, Maersk announced a price increase effective in December: freight rates for small and large containers from Asia to Rotterdam will rise to $3,900 and $6,000, respectively, reflecting an increase of $750 and $1,500 compared to the previous rates.

Additionally, Maersk has announced the implementation of a Peak Season Surcharge (PSS) starting in December for routes from the Far East to Australia, Papua New Guinea, and the Solomon Islands.

In addition, Maersk is adjusting its Peak Season Surcharge (PSS), applicable to shipments from China, Hong Kong, Japan, South Korea, and Mongolia to New Zealand, Fiji, and French Polynesia, effective December 1, 2024.

Hapag-Lloyd

On November 13, Hapag-Lloyd announced an increase in FAK rates for various cargo types between the Far East and Europe.

The rate adjustment applies to shipments transported in 20-foot and 40-foot standard dry and reefer containers, including high-cube containers, effective from December 1, 2024.

The specific rates are as follows:

MSC (Mediterranean Shipping Company)

Due to severe congestion caused by terminal worker union strikes, port and container yard (CY) locations have experienced significant delays.

To ensure service continuity, MSC will implement a Congestion Surcharge (CGS) for all containers exported from Northern Europe, ScanBaltic, Western Mediterranean, Adriatic, and Israel to Canada, effective from November 25 (sailing date) until further notice.

Details are as follows:

CMA CGM

CMA CGM recently notified its customers that, starting December 1, 2024, it will implement a Rate Restoration Initiative (RRI) for shipments from the Canadian West Coast to China, Hong Kong, Macau, Northeast Asia, and Southeast Asia.

Details of the RRI are as follows:

USD 50 per 20-foot container

USD 100 per 40-foot and 45-foot container

This surcharge applies to dry containers only and does not cover open-top, flat-rack, or tank containers.

HMM (Hyundai Merchant Marine)

Effective December 15, 2024, HMM will implement a General Rate Increase (GRI) for all services originating from any location to the United States, Canada, and Mexico.

Details are as follows: