News / Carriers fight back against sub-economic rates with FAK hikes

Cosco ship at Hamburg Photo 175554637 © Balipadma Dreamstime.com

20/10/2023

Ocean carriers are planning a wave of sizeable FAK rate hikes across the major east-west tradelanes next month, in an attempt to swivel voyage results back into the black.

And, with the 2024 budget season looming, the shipping lines will want to ...

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Fred Stiening
October 23, 2023 at 10:18 am
What is a FAK rate?

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- Alex Lennane
  October 23, 2023 at 10:22 am
  Freight All Kinds – A FAK rate is negotiated between the client and the freight carrier. It’s essentially an agreement that the carrier will transport multiple products with different classes at a single freight rate.
  
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  - Mike Wackett
    October 23, 2023 at 10:29 am
    Yes, there are so many acronyms in shipping! We should explain and not assume that everybody knows, or can remember the meaning!
    
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