COSCO plans Asia rate hike, surcharge
COSCO announced Tuesday a general rate increases for westbound and eastbound shipments between the Far East and Northwest Europe and the Mediterranean.
Rates on shipments from the Far East and Indian Subcontinent to the Northwest Europe and the Mediterranean (including shipments to Israel, Lebanon, Syria, North Africa and the Black Sea) will increase $300 per TEU on Sept. 1. Shipments moving in the opposite direction will increase $100 on Sept. 15.
In addition, COSCO announced a peak season surcharge for all shipments moving from the Far East to the Indian Subcontinent, effective Aug. 16. The increase is $75 per 20-foot container and $150 per 40-footer.