COSCO raising Asia-Middle East rates

4/16/2012 10:32:26 AM

COSCO Container Lines said it plans to hike rates and introduce surcharges on trades from the Far East to the Middle East. The measures include a $300-per-TEU rate increase on both May 1 and May 15 for westbound shipments to the Persian Gulf, and a $100-per-TEU increase from May 1 eastbound from the Persian Gulf to the Far East. Meanwhile, COSCO will also assess a $300-per-TEU peak season surcharge from May 15 on eastbound shipments to Red Sea ports. The surcharge is applicable to ports in Saudi Arabia (Red Sea side), Yemen, Jordan, Egypt and Sudan.   American Shipper

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