MSC lifts Asia–Med FAK rates up to 11.8%; the real bill is bigger

MSC's published Asia–Mediterranean FAK rate for a 40-foot container to the East Mediterranean jumps from $5,100 to $5,700 on 15 November — an 11.8% rise before you count a single surcharge. Add the four separately listed charges, and that box costs an illustrative $6,188. The headline number, as usual, is the polite version.

MSC announced the revised tariffs on 29 October, valid from 15 November until 30 November at the latest, covering Far East origins to North Europe, the Mediterranean and the Black Sea. The increases aren't uniform. West Mediterranean and Adriatic rates rise 6%, from $5,000 to $5,300 per 40-footer. The Black Sea climbs 11.3%, from $5,300 to $5,900.

These are announced tariffs, not transaction data. A Freightos update published 4 November put the Asia–Mediterranean spot benchmark at $4,375 per FEU, up roughly 23% over the preceding month and 3% on the week. Forwarders still doubted carriers could push through further planned rises. Two signals, two different stories.

What's inside MSC's published rate?

MSC's FAK figures already include the Global Fuel Surcharge of $266 per TEU and a $15 per TEU Emission Control Area surcharge for Mediterranean destinations. Anyone adding those again is double-counting.

Four further charges apply separately:

• Carbon Limitation Surcharge: $20 per TEU
• Carbon Review Surcharge: $133 per TEU
• Piracy Risk Surcharge: $55 per TEU
• Suez Canal Surcharge: $36 per TEU

That's $244 per TEU, or $488 on a 40-foot box. A qualifying West Mediterranean shipment lands at an illustrative $5,788 all-in. Terminal handling, local and out-port charges sit on top. So the gap between headline and invoice is now nearly $500 per container — before the invoice's second page.

Extension, not increase

MSC's 4 November announcement on piracy and Suez charges extends their geography, not their level. Both surcharges, at $55 and $36 per TEU, now reach the remaining Mediterranean and Black Sea ports from 15 November. MSC first applied them to selected East Med and Black Sea destinations in September, then widened coverage in October. Ports already covered see no new increase; newly covered ports see $91 per TEU arrive. Same charge, very different consequences.

Maersk brings the PSS back

Maersk, meanwhile, withdrew its Far East Asia–Mediterranean Peak Season Surcharge effective from a 1 September price calculation date, then announced a new one on 4 November — effective from a 23 November PCD. It's $750 for 20-foot containers and $1,500 for 40- and 45-footers, spanning Greece, Italy, Spain, Türkiye, Egypt and certain European destinations served via Mediterranean discharge ports.

The $1,500 figure isn't novel; Maersk announced the same amount in June before subsequent revisions and withdrawals. Crucially, the PSS notice carries no base ocean rate. So comparing Maersk's total cost with MSC's from these announcements alone simply doesn't work. Anyone doing so is comparing a wheel with a car.

What does this change for shippers?

Three different pricing events landed in one month: higher MSC FAK tariffs, wider geography for existing risk surcharges, and a restored Maersk PSS. None of them, individually or together, proves a single market-wide jump in realised costs.

Timing matters as much as arithmetic. MSC's FAK validity starts 15 November; Maersk's PSS applies from 23 November. Those dates aren't interchangeable, and booking conditions must be checked before either tariff is applied.

The Suez backdrop frames all of it. Some services are returning to Suez routing while security concerns persist elsewhere, and MSC cites piracy risk around the Arabian Peninsula when explaining its surcharges. But no announcement establishes a direct causal link between routing decisions and November's rate moves.

The verdict for cargo owners: compare total applicable quotations for the same cargo, equipment, route and period. Headline rates and isolated surcharges tell you what carriers want. Invoices tell you what you'll pay — and with Suez uncertainty unresolved and both carriers signalling firmer pricing into December, the burden of checking the fine print now sits squarely with the shipper.

By Amara Osei