COSCO, MSC raising Asia-Latin America rates

   COSCO Container Lines and Mediterranean Shipping Co. both said this week they will seek to raise rates on trades from Asia to Latin America.
   COSCO said Wednesday it will increase rates from the Far East and Indian Subcontinent to Panama, Venezuela, Costa Rica, and Mexico from Aug. 15. To Panama, Venezuela and Costa Rica, the increases are $560 per 20-foot container, and $800 per 40-foot or 40-foot high-cube container. To Mexico, the increases are $500 per 20-foot container, and $1,000 per 40-foot or 40-foot high-cube container.
   MSC said it would increase rates by $500 per 20-foot container, and $1,000 per 40-foot or 40-foot high-cube container from the Far East to the west coasts of South America and Central America, as well as Mexico, also from Aug. 15. – Eric Johnson