Ocean Freight Rate Increase from Asia: What Importers in Chile Need to Know

4 days ago

3 min read

While the world's main trade lanes are seeing rates fall, carriers have announced increases on exactly the corridors Chilean companies rely on most: those connecting Asia with South America. Hapag-Lloyd and CMA CGM will apply increases of US$1,000 per container from October 15, as reported by MundoMarítimo

If you're planning imports from China or other Asian markets for the last quarter, here's what you need to know.

What the carriers announced

Both carriers will apply a GRI (General Rate Increase): a general increase on the base freight rate that affects all shipments on a given route from the effective date

Hapag-Lloyd

From October 15, rates rise by US$1,000 per container on routes from the Far East to the West Coast of South America (WCSA, which includes Chile), the East Coast of South America (ECSA), the west coast of Mexico, Central America and the Caribbean, including Panama. The increase applies to 20' and 40' dry containers and 40' NOR reefers (refrigerated containers shipped with the cooling unit switched off), except NOR reefers to the Caribbean, which remain unchanged.

CMA CGM

Also from October 15, rates rise by US$1,000 per container from Asian ports to both coasts of South America, Central America, Mexico and the Caribbean. This increase is broader: it covers dry, reefer and out-of-gauge (oversized) cargo, as well as shipper-owned empty containers.

Carrier	From	Route	Increase per container
Hapag-Lloyd	Oct 15	Far East → South America, Mexico, Central America, Caribbean	US$1,000 (20'/40' dry and 40' NOR reefer)
CMA CGM	Oct 15	Asia → South America, Mexico, Central America, Caribbean	US$1,000 (dry, reefer, out-of-gauge, empties)

Intra-South America routes are going up too

The increases aren't limited to Asia. There are also intra-regional increases affecting shipments from Brazil or Argentina:

Hapag-Lloyd, from November 1: +US$400 on the East Coast → West Coast of South America route via the 'CON' service, and +US$300 via the 'GS1' and 'SEC' services.
CMA CGM, in effect since October 1 on its 'Brazex' service: +US$1,000 for 20' containers and +US$500 for 40' containers.

A contrast: rates are falling elsewhere

What stands out is that these announcements go against the global market. Drewry's World Container Index, one of the leading container freight benchmarks, fell 1% to US$4,434 per FEU (40-foot container). On Asia-Europe, rates have now declined for 12 consecutive weeks: Shanghai-Genoa fell 3% to US$3,702 and Shanghai-Rotterdam 2% to US$3,399.

The Transpacific remains stable at high levels: Shanghai-New York rose 1% to US$10,428 per FEU, while Shanghai-Los Angeles held at US$7,835. According to Xeneta analyst Peter Sand, those rates remain more than 330% above levels prior to the Hormuz crisis. Xeneta projects that over the next three months they will range between US$6,000 and US$7,000 per FEU to the US East Coast and between US$4,500 and US$5,500 to the West Coast.

What this means for importers in Chile

In practice, the routes Chilean importers use directly are getting more expensive while others are getting cheaper. An importer bringing a 40' container from China could pay US$1,000 more for the same shipment if it sails after October 15. On top of that, there's an effect on the tax base: in Chile, import VAT is calculated on the CIF value, which includes freight.

GRIs aren't always applied in full: they depend on actual demand and on what other carriers do. That's why early visibility on rates before closing purchases matters most.

How to prepare

Book early: if your cargo is ready at origin, consider shipping before October 15.
Review your Incoterms: if you buy FOB, you absorb the increase; if you buy CIF, check whether your supplier will pass on the cost.
Consider consolidated cargo: if your volume is low, shipping LCL lets you pay only for the space you use.
Plan Q4 with a buffer: peak season before year-end reduces space availability.