CONTAINER lines are continuing to announce bluewater freight rate increases on almost daily basis as confidence grows about a solid peak season for imports at the same time as overseas port congestion spreads.

On 7 June OOCL advised customers it will apply a rate restoration of US$500/20’ and US$1000/40’ from 1 July 2024 in the North East Asia-Australia trade, “to maintain a sustainable and reliable schedule for our clients”.

It will be applied to both dry and refrigerated cargoes and, as usual, on top of existing ongoing market rates to all shipments based on shipment onboard date, and will be subject to ancillary surcharges applicable at the time of shipment.

From the same date CMA CGM will apply rate increases of US$525/TEU on all shipments from base ports in North Europe, West Mediterranean, East Mediterranean, Black Sea and the Baltic to Australia and New Zealand.

This will take rates, for example, from North Europe to Australia to US$1873/TEU and $3746/FEU for dry containers, and $3255/TEU and $4950/FEU for reefers. From the Mediterranean the rates are, respectively, US$2075, $3250, $3465 and $5250.

In the South Pacific Neptune Pacific Direct Line is undertaking a rate restoration in the ANZ-Tahiti trade.

Thistoo will take effect on 1 July and is pegged at US$400/TEU and $650/FEU for dry containers, while reefer shippers will also pay an extra $400/TEU and $650/FEU.

Additionally, NPDL is replacing Southern Pearl in the NZ-Tahiti trade with the larger Capitaine Kupe “to support the trade during this rate restoration process”.

The rate restoration program will be effective for all AU and NZ origin cargo loaded on the Capitaine Kupe V41, ETD Auckland 5 July 2024.