Carriers Fight Back Against Sub-Economic Rates with FAK Hikes

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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 jettison unprofitable cargo from their customer portfolios.

For example, MSC has announced new freight rates, effective November 17, from the Mediterranean and North Europe to the U.S., Canada and Mexico, including a $4,400 per 40-ft base rate from Antwerp to New York.

Read more in an article from The Loadstar.