COSCO Container Lines said on Thursday that it’s adjusting the rates and fuel surcharges it assesses on trade from the Far East to the Middle East.
COSCO will hike rates on shipments from the Far East to the Persian Gulf by $200 per TEU from Nov. 1. Applicable destinations include ports in Iran, Iraq, Kuwait, Saudi Arabia (Persian Gulf side), Bahrain, Qatar, the United Arab Emirates and Oman.
Meanwhile, the carrier is making changes to its fuel adjustment factor on various Far East/Middle East lanes, also effective Nov. 1.
The surcharges will be:
- From the Far East (except Japan) to the Persian Gulf and Indian Subcontinent ports, $454 per TEU and $908 per FEU.
- From Japan to the Persian Gulf and Indian Subcontinent ports, $351 per TEU and $702 per FEU.
- From the Far East (except Japan) to the Red Sea ports, $608 per TEU and $1216 per FEU.
- From Japan to Red Sea ports, $665 per TEU and $1,330 per FEU.