In a statement, Cosco said all shipments from Asia, including Japan and IPBC (India, Pakistan, Bangladesh, Ceylon) bound for Northwest Europe and the Mediterranean, including Israel, Lebanon, Syria, North Africa, and the Black Sea, will be levied a PSS of US$300 per TEU, or 20-foot-equivalent unit.
The surcharge takes effect from June 1.
In addition, the carrier has lined up rate restoration programs for its Far East networks. All shipments from Asia to the Indian Sub-Continent will absorb a rate increase of $100 per TEU from May 15. The Far East includes China, Hong Kong, Taiwan, Macau, Philippines, Vietnam, Thailand, Malaysia, Singapore, Indonesia, Korea, Brunei, Cambodia, Myanmar, and Bangladesh. The Indian Sub-Continent covers India and Pakistan.
A general rate increase (GRI) of $300 will also be imposed on the Far East-Persian Gulf trade effective from June 1. Affected will be the following Asian countries: China, Hong Kong, Taiwan, Macau, Philippines, Vietnam, Thailand, Malaysia, Singapore, Indonesia, Korea, Brunei, Cambodia, Myanmar, and Bangladesh.
The Persian Gulf countries include Iran, Iraq, Kuwait, Saudi Arabia, Bahrain, Qatar, United Arab Emirates, and Oman.
There will also be bunker adjustment factor (BAF) effective June 1 for east- and westbound freight on the Far East, including Japan and the Indian Sub-Continent, to Europe and the Mediterranean lane. The BAF for the Far East-Northwest Europe will be $735 per TEU and $1,470 per 40-foot-equivalent unit (FEU)
The BAF for shipments between the Far East and Mediterranean (including Israel, Lebanon, Syria, the Black Sea, West Africa, and North Africa) will be $696 per TEU and $1,392 per FEU.
Goods carried between the Indian Sub-Continent and North West Europe/Mediterranean (including Israel, Lebanon, Syria, Black Sea, West Africa, and North Africa) will carry BAF of $441 per TEU and $882 per FEU.
Finally, Cosco is set to implement a currency adjustment factor (CAF) of 10.05 percent for both east- and westbound shipments on the Far East (including Japan) and the Indian Sub-Continent to Northwest Europe and the Mediterranean trade effective June 1.
The Mediterranean includes Lebanon, Syria, the Black Sea, West Africa, and North Africa, excluding Israel.