Coscon levies wide range of rate hikes from Asia

COSCO Container Lines has announced a series of rate increases on its Asia trade routes that came into effect both this month and last in a bid to maintain service levels.

With the gradual recovery of shipping market and the launch of super slow steaming programme by CKYH Alliance at the end of 2009, the market shows stability while utilisation of individual routes has recovered and greater demand for slots has emerged since the first of the month, a statement from the carrier said.

Rate hikes are as follows:

The Emergency Revenue Charge (EMR) on the transpacific trade from Asia to both the US east and west coasts is US$320 per TEU and $450/FEU, effective from January 15.

In addition, on the transpacific trade, a General Rate Increase (GRI) has been introduced on the Asia-Canada trade of $320/TEU and $450/FEU for the east bound trade and $200/TEU and $300/FEU for the west bound trade, starting January 15 as well.

As for the Asia-Europe trade, the General Rate Increase (GRI) for cargo originating in Asia destined for northwest Europe and the Mediterranean region is $300/TEU, effective January 15. The Emergency Peak Season Surcharge applicable on this trade route is $300/TEU from January 15.

The General Rate Increase (GRI) on the trade from Asia to Australia is $250/TEU, effective from January 15.

On the south east Asia trade a Peak Season Surcharge (PSS) for reefer cargo originating at ports in China and destined for south east Asia of $300/TEU has been levied since December 1.

On the Sino-Japanese trade, the carrier has been implementing a Reefer Consumption Surcharge (RCS) for reefer cargo transported between ports in China and Japan of CNY600/TEU ($88/TEU) since December 1.

Furthermore, Coscon has been raising its fuel surcharges on various trades as world oil prices have been increasing since late 2009.

Since January 1, the Bunker Adjustment Factor (BAF) on the transpacific trade from Asia to the US has been increased to $278/TEU and $392/FEU for cargo heading to the US west coast; and $551/TEU and $775/FEU for US east coast consignments.

Effective from the same date, the BAF for the Asia to Canada trade has been increased to $278/TEU and $392/FEU; and the BAF for both legs of the Asia-Europe and Mediterranean trade is now $510/TEU.

The BAF for both legs of the Asia-Australia trade rose to $425/TEU on January 8, while the BAF for both legs of the Asia New Zealand trade will increase to $525/TEU, effective from January 22.

As for the Fuel Adjustment Factor (FAF), this has been increased to $105/TEU since January 1 on both legs of the Far East to South East Asia trade; $276/TEU and $552/FEU on the Far East to Gulf and Indian subcontinent trade; and $369/TEU and $738/FEU on the Far East to Red Sea trade.

Since January 15 the FAF on the Far East to South Africa trade has been increased to $450/TEU; and $650/TEU on the Far East to South America East Coast trade.

As for the Taiwan trade an Emergency Bunker Surcharge (EBS) for both legs of the trade between Taiwan and mainland China of CNY800/TEU ($117) has been in effect since January 15.

Finally, Coscon said it has also adjusted the Currency Adjustment Factor (CAF), port surcharge and terminal charge "according to the changes of currency exchange rate and the port situation so as to continue efforts in fully providing our customers with quality service."

(Source: www.schednet.com)