The increase is $300 per TEU and is applicable from all parts of Asia to all parts of Europe. COSCO's partner on the CKYH Alliance, Hanjin Shipping, also said Thursday it will raise Asia/Europe rates by $200 per TEU.
Meanwhile, COSCO also said it will begin charging a $90-per-TEU container imbalance fee on all southbound shipments, including reefer cargo, on its China/Taiwan service effective March 17.
The carrier will also assess a $25-per-TEU documentation fee on all shipments from Japan to Red Sea, Persian Gulf, and Indian Subcontinent ports as of April 1.
