Cosco Container Lines is poised to implement rate hikes, surcharges, and other adjustment on its Far East services effective July.
A general rate increase (GRI) will be imposed on all shipments from the Far East (including Japan) and the India and Pakistan region to the Mediterranean (including Israel, Lebanon, Syria, North Africa and West Africa Region) and West Africa.
The GRIs are US$450 per TEU for the Mediterranean trade and $250 per TEU for the West Africa trade, and will take effect on July 1.
There will also be a peak season surcharge (PSS) for all cargo from the Far East and Indian Subcontinent to the United States and Canada effective from July 15.
The PSS is as follows: $320 per 20-foot container, $400 per 40-foot container, $450 per 40-foot high-cube container, and $506 per 45-foot container.
The Far East and Indian Subcontinent include Bangladesh, Brunei, Cambodia, China, Macau, Taiwan, India, Indonesia, Japan, Korea, Malaysia, Myanmar, Pakistan, Papua New Guinea, Philippines, Singapore, Sri Lanka, Thailand, and Vietnam.
Cosco is also levying a bunker adjustment factor (BAF) on the US and Canada trade effective from July 1.
For all cargo from Australia, New Zealand, the Far East, and Indian Subcontinent moving via all-water to the US West Coast ports and for intermodal cargo via these ports destined to points in California, Oregon, and Washington, the BAF is as follows: $422 per 20-foot container, $527 per 40-foot container, $593 per 40-foot high-cube container and 40-foot high-cube reefer, and $677 per 45-foot container.
For all intermodal cargo and mini land bridge intermodal cargo via US West Coast ports destined to points other than those in California, Oregon, and Washington, the BAF is $713 per 20-foot container, $891 per 40-foot container, $1,002 per 40-foot high-cube container and 40-foot high-cube reefer, and $1,127 per 45-foot container.
For all cargo moving via all-water to the US East Coast and Gulf ports and for all intermodal cargo via these ports, the BAF is $784 per 20-foot container, $980 per 40-foot container, $1,103 per 40-foot high-cube container and 40-foot high-cube reefer, and $1,241 per 45-foot container.
From the Far East and Indian Subcontinent to or via Vancouver and Prince Rupert in Canada, the BAF is $422 per 20-foot container, $527 per 40-foot container, $593 per 40-foot high-cube container and 40-foot high-cube reefer, and $677 per 45-foot container.
A BAF will also cover the Europe and Mediterranean trade, according to Cosco.
From July 1, a BAF will be implemented for both east and westbound shipments from the Far East (including Japan) and Indian Subcontinent to Europe and the Mediterranean trade.
Shipments between the Far East and Northwest Europe will carry a BAF of $730 per 20-foot container and $1,460 per 40-foot container.
The BAF for shipments between the Far East and Mediterranean (including Israel, Lebanon, Syria, the Black Sea, West Africa region, and North Africa region) will be $687 per 20-foot container and $1,314 per 40-foot container.
Shipments between the Indian Subcontinent region and Northwest Europe and the Mediterranean (including Israel, Lebanon, Syria, the Black Sea region, West Africa region and North Africa region) will carry a BAF of $438 per 20-foot container and $876 per 40-foot container.
Finally, Cosco said a currency adjustment factor (CAF) is also in the offing for the Europe and Mediterranean trade, to take effect from July 1.
The CAF of 11.05 percent of ocean freight applies to both east- and westbound shipments from the Far East (including Japan) and the Indian Subcontinent to the Northwest Europe and Mediterranean trade (including Lebanon, Syria, Black Sea region, West Africa region and North Africa region, but excluding Israel).
Photo: cliff1066
