Liner giant CMA CGM has said it will stop all spot container rate increases with immediate effect until February next year.
The French liner giant said it was “prioritising its long-term relationship with customers in the face of an unprecedented situation in the shipping industry”.
“Since the beginning of 2021, container shipping spot freight rates have continued to rise due to port congestion and the major imbalance between demand and maritime container transport effective capacity,” CMA CGM said.
