Big changes in container shipping as the EU ends cartel exemptions. Effective April 25, 2024, alliances like 2M, Ocean Alliance, and THE Alliance will be impacted, while major players like Hapag-Lloyd and CMA CGM raise rates.
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CAROZ’s eye opener:
The European Union’s decision not to extend the special regulation for alliances in container shipping beyond April 25, 2024, is a welcome turn of events for shippers and consumers. This move, supported by evofenedex, underscores that alliances have failed to deliver the desired transparency in prices and productivity, proving detrimental to all involved parties. Ending the Consortia Block Exemption Regulation (CBER) promotes fair competition and improves conditions for European shippers, ultimately benefiting both shippers and consumers.
The decision by Hapag-Lloyd and CMA CGM to implement significant rate increases for container shipping on the Asia-Northern Europe route reflects the challenging dynamics of the industry. While these hikes may raise concerns among shippers and potentially impact the cost of goods, the shipping companies’ actions appear driven by the necessity to address the current unsustainable tariff levels, exacerbated by plummeting spot rates. This move underscores the delicate balance between ensuring the financial viability of container shipping operations and the interests of shippers and consumers, emphasizing the need for transparency and stability in the industry.
Want to know more?
Each monthly update we will highlight the developments within the Ocean freight market including the following topics:
- Trending topic: EU scraps cartel exemptions
- Rail & Air | Asia – Europe
- Space & rate developments
- Port developments & congestion
- Freight Indices & Container Availability
- How to mitigate risks