In response to the steep increase in inflation affecting the French people’s purchasing power, CMA CGM will introduce even more significant savings in ocean freight prices and expand its reach as reported by The Loadstar.
Freight rate reduction
Having announced plans for a €500 rebate at the end of last month, the French shipping giant said today it had decided to increase the freight rate reduction to €750 per 40ft container for all imports into the mainland and French overseas territories from Asia.
“Initially intended for 14 major retailers in mainland France, the reduction has been extended to all its customers in France, including large groups, SMEs and very small businesses,” said the company.
“This reduction will support the competitiveness of companies in exporting, especially small and medium-sized companies that promote France’s expertise worldwide.”
It said the measures represented reductions of up to 25% in the freight rate.
“It is essential that these reductions are passed onto the prices of products intended for end consumers, and that the ministry’s departments can ensure this.”
Super profits
CMA CGM said the measures followed other initiatives taken over a year ago, in particular the freezing of ‘floating’ freight rates since September (and even May in the French overseas territories).
However, it has not disclosed how much capacity it has made available in this way.
I told them it was insufficient and that they should be doing more.
The fresh move comes against a backdrop of calls for a windfall tax on ‘super’ profits.
While the Macron government has indicated that it does not support such action, it falls short of an overall majority in France’s parliament.
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Source: The Loadstar
