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Recently, several companies, including Maersk, Hapag-Lloyd, and CMA CGM, have issued announcements regarding business adjustments scheduled for March 1st. Maersk adjusts peak season surcharges From March 1 to March 31, 2024, Maersk will adjust the Peak Season Surcharge (PSS) rates on some routes to ensure continued global service. In addition, according to Maersk’s official website, the new rates for demurrage and retention fees in North America will also take effect on March 1, 2024. Effective March 1, 2024, shipping companies will be making some important updates to demurrage and storage fees for cargo shipped worldwide to/from the United States, Canada, and Mexico. For Canada and Mexico, import and export rates for all levels and equipment types will increase by $20. For the United States, rates will increase by $20 across all levels and equipment types, applicable only to import demurrage and import/export detention fees. Free time levels remain unchanged. The revised fee schedule is listed below and is valid from March 1, 2024, until further notice. Hapag-Lloyd freight rate adjustments affect multiple countries! German shipping company Hapag-Lloyd (HPL) recently announced new general rate increases (GRI)/general rate adjustments (GRA) for routes from India and Pakistan to the United States (East Coast, West Coast, and Gulf Coast) and the west coast of Canada. Hapag-Lloyd will increase freight rates by $1,000 per container for 20-foot and 40-foot dry, refrigerated, and special containers (including high-cubic-meter equipment). According to Hapag-Lloyd’s announcement, this GRI/GRA adjustment will apply to all containers under full control from March 1, 2024, and will remain in effect until further notice. In addition, according to a Hapag-Lloyd website announcement on February 2, Hapag-Lloyd will adjust the freight rates (GRI) for 20-foot and 40-foot dry cargo, refrigerated, and special containers (including high cubic equipment) from Asia to Latin America, Mexico, the Caribbean, and Central America. The specific adjustments are as follows: 20-foot dry cargo container: US$500; 40-foot dry cargo container: US$800; 40-foot high cube container: US$800; 40-foot non-operational refrigerated container: US$800. These rules apply from March 1, 2024 until further notice, with the following specific geographical scope. From Asia (excluding Japan), the following countries are included: China, Macau, South Korea, Thailand, Singapore, Vietnam, Cambodia, Philippines, Indonesia, Myanmar, Malaysia, Laos, and Brunei. Latin America, Mexico, the Caribbean, and Central America include the following countries: Mexico, Ecuador, Colombia, Peru, Chile, El Salvador, Nicaragua, Costa Rica, the Dominican Republic, Jamaica, Honduras, Guatemala, Panama, Venezuela, Brazil, Argentina, Paraguay, and Uruguay. CMA CGM’s New Moves in the Red Sea CMA CGM recently announced adjustments to its PSS (Power Segment Service) from Europe to India, the Middle East, and the Red Sea. Starting March 1, CMA CGM will charge a PSS of US$200 per container for dry containers shipped from Northern Europe, Scandinavia, Poland, the Baltic Sea, the Mediterranean Sea, the Adriatic Sea, the Black Sea, and North Africa to the Indian ports of Nava Sheva, Mundra, and Hazra. A PSS fee of US$200 per container will be charged for dry containers shipped from Northern Europe, Scandinavia, Poland, and the Baltic Sea to the Middle East, Djibouti, and Yemen. A PSS fee of US$300 per container will be charged for dry containers shipped from the Mediterranean, Adriatic, Black Sea and North Africa to the Middle East, Djibouti and Yemen. It is worth noting that on February 19, the Council of the European Union announced the launch of Operation Shield, a maritime escort operation in the Red Sea and the Gulf region, with the goal of “restoring and maintaining freedom of navigation in the Red Sea and the Gulf”. The EU stated that the operation will be conducted in major maritime traffic routes in the Bab el-Mandeb Strait and the Strait of Hormuz, as well as in international waters of the Red Sea, the Gulf of Aden, the Arabian Sea, the Gulf of Oman, and the Persian Gulf, and is tentatively scheduled to last for one year. This also means that the EU believes the Red Sea crisis is unlikely to ease in the short term. Reposted from: Baiyun.com The Red Sea “storm” has a global impact on cross-border logistics, with a surge in orders for China-Europe freight trains.