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

Cosco ship at Hamburg Photo 175554637 © Balipadma Dreamstime.com
© Balipadma Dreamstime.com
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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?

    • 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.

      • 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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