French shipping company CMA CGM has announced rate increases for all westbound cargo.

The rate hike of $400 per TEU and $500 per FEU will be levied between northern Europe and the US and Canada starting from 1 September, the company said.

CMA CGM vice-president Jean-Philippe Thenoz said that rate was necessary to ensure the best level of service.

Danish shipping giant Maersk has also recently announced a rate hike of $400 per TEU and $500 per FEU and on high-cubes and 45 footers on all cargo moving between the US and northern Europe.