Cosco levies raft of surcharges on Asia-Europe lanes

COSCO Container Lines has announced a series of surcharges on east- and west-bound cargo moving between the Far East, the Indian subcontinent northwest Europe and the Mediterranean January 1.

There was also an announcement of a $6 per container International Security Port Surcharge (ISPS) for Far East to Middle Eastern trades.

There is also a currency adjustment factor (CAF), which will stand at 14.75 per cent of ocean freight and apply to cargo moving between the Mediterranean, that is Lebanon, Syria, Black Sea ports and north Africa - but not Israel.

A bunker adjustment factor (BAF) will also be applied to cargo in the Europe and Mediterranean trades from December as well as another BAF for both east and west bound shipments in Far East and the Indian subcontinent to Europe and the Mediterranean from January 1.

The BAF will be as follows: On shipments between Far East and north west Europe / Mediterranean, which includes Israel, Lebanon, Syria, Black Sea ports as well as north Africa and west Africa, the increases will be US$510 per TEU and $1,020 per FEU.

Shipments between the Indian subcontinent and north west Europe / Mediterranean, which includes Israel, Lebanon, Syria, the Black Sea ports, west Africa and north Africa will be subject to a BAF of $306 per TEU and $612 per FEU.

There was also news of a fuel adjustment factor (FAF) for the Far East-Mideast trades to apply to cargo in the Far East to the Red Sea, the Persian Gulf and the India subcontinent to take effect from January 1 until January 31.

The revised FAF is, from the Far East (except Japan) to the Persian Gulf and Indian subcontinent, will be $276 per TEU and $552 per FEU. From Japan to the Persian Gulf and the Indian subcontinent it will be $238 per TEU and $476 per FEU. From the Far East (except Japan) to the Red Sea the FAF will be $369 per TEU and $738 per FEU. And from Japan to the Red Seas it will be $429 per TEU and $858 per FEU,

The Far East includes mainland China, Hong Kong, Taiwan, Macao, Philippines, Vietnam, Thailand, Malaysia, Singapore, Indonesia, Korea, Brunei, Cambodia and Burma.

The Persian Gulf includes Iran, Iraq, Kuwait, Saudi Arabia (Persian Gulf Coastal), Bahrain, Qatar, United Arab Emirates and Oman.

The Indian subcontinent includes India and Pakistan.

The Red Sea includes Saudi Arabia (Red Sea coast), Yemen, Jordan, Egypt and Sudan.

(Source:www.schednet.com)