MARSEILLE-based shipping giant CMA CGM has announced it will raise rates on Asian-north European routes US$225 per TEU on cargo from all parts of Asia, effective June 1.

The increase has been imposed "in response to the recent drastic deterioration of freight rates". CMA CGM said the increase "is a first step to gradually increase revenue to more decent levels" and "will be followed by other initiatives as from July 2011."

CMA CGM also said it would raise rates from Mediterranean ports to La Haina in the Dominican Republic and La Guaira in Venezuela, also effective June 1. The increase is $100 per TEU and $150 per FEU for all container types.

Geneva's Mediterranean Shipping Company (MSC) also plans to apply a rate increase of $100 per TEU on cargo from India to East Africa from May 16.