After a momentarily relief from Red Sea crisis, Freight Rate see uptrend again with most vessel operators an increase in FAK(Freight All Kinds) rates to approx. $5,500 per container.

MSC has announced a rate increase of $5500 per TEU (Twenty-Foot-Equivalent-Unit) and $5800 per FEU (Forty-Foot-Equivalent-Unit) from Nhava Sheva, Ennore and Kolkata to Port of Antwerp-Bruges (Belgium). For loads to Port of Valencia (Spain), the increased FAK rates will be $6,200 and $6,500, respectively. The revised rates will be in effect from 1st August 2024.

CMA CGM has announced similar rate hike for shipping from India to North Europe and the Mediterranean, at rate of $6,500 for every dry 20-foot/40-foot container. German international shipping and container transportation company, Hapag-Lloyd to levy an emergency space contingency surcharge of $500 per TEU/FEU for shipments from Indian ports to North/South Europe.

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In addition to it, to facilitate guaranteeing space onboard ships, some carriers are also adding additional charges of around $500 per container.