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CHINA's flag carrier, Cosco, the world's fourth largest carrier, has announced a series of general rate increases for services from Asia to Europe, South America, South Africa and the US in September.
From September 1, rates for Far East-South Africa service will increase $250 per TEU and $500 per FEU.
Effective September 8, for the westbound Asia-Europe services from the Far East (including Japan) and Indian subcontinent to north west Europe and Mediterranean (including Israel, Lebanon, Syria, North Africa and the Black Sea), rates will increase US$400 per TEU, according to the company statement.
In regard to transpacific trade, Cosco will also increase its rates for general cargo from September 10 and for reefer cargo from September 15.
For all cargo moving from Asia to the US west coast and for intermodal cargo via west coast ports to destinations in California, Oregon and Washington states, rates will increase $400 per TEU, $500 per FEU, $563 per 40-foot high cube box and $633 per 45-foot box.
For all intermodal cargo and minilandbridge intermodal cargo via US west coast ports and Canadian ports to destinations other than those in the states of California, Oregon and Washington, rates will be up by $560 per TEU, $700 per FEU, $788 per 40-foot high cube box and $886 per 45-foot box.
For shipments moving via all-water routes to US east coast and Gulf ports and for all intermodal cargo via these ports, rates will increase $560 per TEU, $700 per FEU, $788 per 40-foot high cube box and $886 per 45-foot box.
Starting from September 15, rates for shipments from Far East to South America east coast will be up $500 per TEU and $1,000 per FEU and 40-foot high cube box.
Effective September 16, for the eastbound Asia-Europe trade, rates for shipments (including reefer cargo) from north west Europe and Mediterranean to the Far East and the Indian subcontinent will be up $150 per TEU and $300 per FEU.
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