COSCO Container Lines said last week it plans to increase rates on a number of trades from Asia.
The line plans to hike rates from Asia to the Persian Gulf and Red Sea $150 per TEU on March 1 and again on April, then by $250 per TEU on May 15 and another $150 per TEU on June 15.
To the Indian subcontinent, COSCO will see a $100 per TEU increase from March 1, then $150 per TEU on April 15 and another $150 per TEU on June 1.
To the east coast of South America, the line will hike rates by $300 per TEU on April 1 and another $400 per TEU from June 1. To the west coast of South America, there will be a $300 increase added on April 1 and to Australia, another $250 per TEU rate hike in May. — Eric Johnson