Cosco hikes rates, levies re-positioning and peak season charges

COSCO Container Lines has announced a general rate increase, a peak season surcharge and a container repositioning charge for cargo moving between the Far East, the Indian subcontinent and North America.

The peak season surcharge applies to cargo bound for Canada and will be set at US$320 per TEU, $400 per FEU, $450 per 40-foot high cube and $506 per 45-footer from September 5 through October 31.

For these purposes, the Far East and Indian subcontinent include Bangladesh, Brunei, Burma, Cambodia, mainland, China, Macau, Hong Kong, Taiwan, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Philippines, Singapore, Sri Lanka, Thailand and Vietnam.

The general rate increase applies to cargo bound for Asia and the Indian subcontinent from the United States starting from September 1.

The rate increase will be for dry cargo (including exempt commodities but excluding out-of-gauge cargo) and will be set at $120 per TEU, $150 per FEU for US west coast cargo.

For cargo from the US east coast, the increase will be $160 per TEU and $200 per FEU and for intermodal mini-land bridge, container yard and door service cargo, it will be set at $160 per TEU and $200 per FEU.

For all refrigerated west coast cargo, the increase will be $200 per TEU and 250 per FEU. For east coast cargo it will be $240 per TEU and $300 per FEU and for all intermodal mini-land bridge, container yard and door service, $240 per TEU and $300 per FEU.

"The long lasting lower freight rates have been far below the level to cover vessel operating costs and overwhelmed by recent soaring fuel prices, the general rate increase is necessary for the carrier to continue to operate services with the high level of reliability," said a Cosco statement.

The container repositioning charge for Asia to the US comes into effect September 15. It will be set at $320 per TEU, $400 per FEU, $450 per 40-foot high cube and $506 per cent 45-footer.

"In order to recover the costs related to equipment positioning incurred by carrier and to continue providing customers with the best in class service in the region, the equipment positioning charge will be applied to all cargo shipped under this tariff or under service contracts to which this tariff is applicable from the Far East and Indian subcontinent (Bangladesh, Brunei, Cambodia, mainland China, Hong Kong, Macau, Taiwan, India, Indonesia, Japan, Korea, Malaysia, Myanmar, Pakistan, Papua New Guinea, Philippines, Singapore, Sri Lanka, Thailand, Vietnam) to the US," said the company statement.
 

(Source: www.schednet.com)