Operation News

Cosco announces rate, surcharge hikes


Cosco Container Lines has announced adjustments to rates and surcharges in several trades.

Refrigerated container rates both eastbound and westbound between Asia and the U.S. and Canada will go up $1,500 per 40-foot reefer container, starting Jan. 1, 2013.

On Nov. 1, 2012, rates will increase by $150 per 20-foot-equivalent unit for cargo, including reefer cargo, moving from the Far East to the Indian subcontinent. On that same date, the ocean carrier will impose a new "emergency bunker adjustment" of $1,600 per TEU and $3,200 per 40-foot-equivalent unit on shipments from the Far East to the east coast of South America and a similar bunker surcharge of $700 per TEU and $1,400 per FEU for shipments from the Far East to South Africa.

Effective Nov. 15, 2012, Cosco will raise rates from the Far East to the east coast ofSouth America by $500 per 20-foot container and $1,000 per 40-foot container, including 40-foot high cubes.

Finally, the shipping line has announced a new documentation fee adjustment for shipments from mainland China to Korea, effective Nov. 1, 2012, in the amount of RMB 400 (approximately US$64.02).

The Journal of Commerce