News / Transatlantic westbound 'a total disaster', with 'unsustainable' rates

© Alexfiodorov

According to CMA CGM, westbound transatlantic ocean rates have now hit “unsustainable levels”.

The French carrier announced a raft of FAK (freight all kinds) increases on Friday, an endeavour to drive rates back up on a route that has become, what one liner executive described to The Loadstar as, “a total disaster”.

Indeed, Xeneta’s XSI North Europe to US east coast average rate per 40ft slumped from $7,700 a year ago to just $1,327 last week.

Moreover, The Loadstar recently saw a rate ...