OOCL, Cosco Plan January Rate HikesCreated by HButler on 12/11/2012 10:51:52 PM
Orient Overseas Container Line will put a general rate increase into effect on Jan. 15 on its services from Asia to New Zealand and Cosco Container Lines is adding a peak-season surcharge on its westbound Asia-Europe services, effective Jan. 10.
OOCL's proposed increase is $200 per 20-foot-equivalent unit and Cosco's is $300 per TEU.
Hong Kong-based OOCL said its “revenue recovery program” would ensure the “continued provision of high quality services and sufficient capacity to cater to our customers’ requirements.”
The announcement comes after OOCL said it would hike rates by $550 per TEU for shipments from the Far East (including Japan), the Indian subcontinent and the Middle East to North Europe, and $650 per TEU to destinations in the Mediterranean and Black Sea, effective Dec. 15, followed by a $350 per-TEU peak-season surcharge on the same trade lane, starting Jan. 10.
Cosco's surcharge covers all westbound shipments from the Far East to northwest Europe and the Mediterranean. Areas of coverage include Japan, India, Pakistan, Bangladesh and Ceylon in Asia and Israel, Lebanon, Syria, North Africa and the Black Sea region on the Med.
- The Journal of Commerce.