FEFC to raise westbound rates by $300 per TEU

FEFC to raise westbound rates by $300 per TEU    The Far Eastern Freight Conference has confirmed that its members will seek a $300-per-TEU rate increase from July 1 for cargo moving from Asia (excluding Japan) to North Europe, the Baltic Sea, Scandinavia and Mediterranean. Reefer containers will be subject to a $400-per-TEU rise.
   The latest increase follows on from $200 per TEU hikes on Jan. 1 and Apr. 1.
   'The higher rate increase quantum is to enable lines to recover higher costs incurred in serving reefer customers,' the FEFC said in a statement.
   Meanwhile, the FEFC reminded customers that a peak season surcharge of $135 per TEU will apply from Aug. 1 to Nov. 15 for cargo from Asia (excluding Japan) to North Europe/Baltic/Scandinavia and from June 1 to Oct. 15 for Asia (excluding Japan) to the Mediterranean.
   The conference's bunker rates in July for traffic to and from the United Kingdom, North West Continent, Mediterranean and Scandinavia will be $307 per TEU with a weight-measure adjustment of $15.35. To and from the Baltic Sea region, the BAF will be $312 per TEU with a weight-measure adjustment of $15.60. FEFC's currency adjustment factor for July will be 10.6 percent.
   Also, the 20-foot Container Premium will be increased from $150 to $250 for cargo loaded at the North China ports of Yantai, Lianyugang, Dalian, Qingdao and Tianjin/Xingang, effective from June 27.