China’s Cosco Container Lines has announced general rate hikes for its Far East trade services to take effect starting next month.
The container line said it will impose general rate increases (GRIs) for the Far East-South America East Coast trade from January 1, 2014.
The GRIs are US$650 per 20-foot container, and $1,300 per 40-foot container and 40-foot high-cube container.
It will also impose a two-step GRI on all shipments in the Far East-South America West Coast and Mexico trade. The first set of increases are $600 per 20-foot container, and $1,200 per 40-foot box and per 40-foot high-cube unit, effective from January 1.
A second set of the same rate hikes will be implemented from January 15.
The southbound Far East and Indian Sub-Continent-Canada trade network is likewise to be affected by two rounds of cargo rate adjustments applied to all dry and reefer shipments.
Effective from January 1, a $320 hike will be levied per 20-foot-equivalent unit (TEU), $400 per 40-foot-equivalent unit (FEU), $450 per 40-foot high-cube container, and $506 per 45-foot box.
Effective from January 15, rates for the same sling will be higher by $240 per TEU, $300 per FEU, $338 per 40-foot high-cube container, and $380 per 45-foot unit.
On the Far East-Central America loop, shippers will have to pay higher rates starting January 1. The rate adjustments for the Far East and Indian Sub-Continent-Panama, Venezuela, Columbia, Costa Rica, and Cuba trade are $700 per TEU, and $1,000 per FEU and per 40-foot high-cube container.
The Far East and Indian Sub-Continent include Bangladesh, Brunei, Cambodia, China, Hong Kong, Macau, Taiwan, India, Indonesia, Japan, Korea, Malaysia, Myanmar, Pakistan, Papua New Guinea, Philippines, Singapore, Sri Lanka, Thailand, and Vietnam.
Meanwhile, Orient Overseas Container Line (OOCL) said a peak season surcharge is slated for the westbound Asia-Europe network effective January 8, 2014.
The PSS of US$450 per TEU applies to all shipments from the Far East (excluding Japan), Indian Sub-Continent, and the Middle East to North Europe, the Mediterranean, and the Black Sea.
Photo: darinmarshall
