Cosco to levy two-way CAF-BAF on Far East to Europe, Med, Africa

COSCO Container Lines has announced it will charge a Currency Adjustment Factor (CAF) and a Bunker Adjustment Factor both from February 1.

The CAF will be 15.24 per cent of ocean freight from February 1 for both east and westbound shipments in Far East including Japan and the Indian subcontinent to north west Europe and Lebanon, Syria, Black Sea ports as well as west and north Africa, but not Israel.

The BAF will be applied for Europe and the Med on east and westbound shipments in Far East including Japan and the Indian subcontinent to Europe and the Mediterranean from February 1.

The BAF will be applied to shipments between Far East and north west Europe and the Mediterranean, including Israel, Lebanon, Syria, Black Sea ports, west and north Africa and will be US$500 per TEU and $1,000 per FEU. Between the Indian subcontinent and northwest Europe and the Med, which includes Israel, Lebanon, Syria, Black Sea ports, west and north Africa the charge will be $300 per TEU and $600 per FEU.

(Source: www.schednet.com)