CMA CGM postpones peak season surcharges for U.S. routes
In a major update for ocean shippers, CMA CGM is deferring peak season surcharges on several routes to the United States. The news, first reported by Yahoo Finance, highlights the fourth postponement of a $1,000 surcharge on service departing from the Indian subcontinent, the Middle East Gulf, the Red Sea and Egypt to the U.S. Eastern and Gulf Coast. Also read: CMA CGM delays key U.S. shipping surcharge amid contract talks The French shipping giant's surcharge is thought to reflect the increased costs of maintaining operations amid security concerns in the Red Sea, where CMA CGM vessels remain one of the few still sailing despite the risks posed by attacks by Houthi rebels in Yemen. One of the carriers. The company has aligned with global early-loading trends ahead of the Lunar New Year, when Asian factories typically close for extended periods starting on January 29. The strategic move comes at a time when ocean carrier alliances and vessel-sharing agreements are…
US port strike looms: Surcharges send freight rates soaring
Shipping lines prepare for disruption on January 15 The upcoming January 15, 2025, strike by dockworkers on the East Coast of the United States is having an impact on the logistics industry, pushing up freight rates and triggering surcharges from major shipping companies. Negotiations between longshoremen and terminal operators remain deadlocked, prompting industry stakeholders to brace for major supply chain disruptions. Also read: Contract talks stalled, East Coast port strikes loom, carriers brace for fallout Leading carriers launch surcharges To mitigate the potential impact, carriers including Maersk, CMA CGM and Hapag-Lloyd have announced surcharges on several routes. Maersk: USD 1,500 per TEU, rising to USD 3,780 for a 45-foot container. CMA CGM: USD 800 per TEU for exports and USD 1,500 for imports. lloyd table: Work interruption surcharge applicable to multiple regions, with additional charges for East Asian imports. Freight rates on major routes rise Freight rates climbed sharply, reflecting the uncertainty surrounding the strike. Shanghai Container Freight Index (SCFI)…
FTC rules require upfront disclosure of hotel surcharges
The hidden fees that significantly increase the cost of a hotel stay may soon disappear because Federal Trade Commission (FTC) A rule has been finalized requiring hotels to include "resort," "convenience" and "service" charges in the total advertised price. The junk fee rule approved by the FTC on Dec. 17 will primarily require hotel companies and companies that sell tickets to live events to include all fee information in their ads, rather than just additional information displayed at checkout. FTC: 'People should know ahead of time' “People should know ahead of time what they will be asked to pay without worrying that they will be saddled with mysterious charges later that they did not budget for and cannot avoid,” said FTC Chairman Lina M. Khan. “The FTC rule will end junk fees on live event tickets, hotels and vacation rentals, saving Americans billions of dollars and millions of hours of wasted time.” In addition to requiring sellers to disclose the…
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