COSCON announces rate hike, peak season and bunker charges

COSCO Container Lines (COSCON) has announced a rate increase for southbound cargo from mainland China, Hong Kong, Taiwan, Japan and Korea to Australia of US$300 per TEU, US$600 per FEU and 40-foot high cube from August 1. COSCON further announced a peak season surcharge of US$250 per TEU, US$500 per FEU and US$500 per 40-foot high cube from August 15. COSCON said it would apply an emergency bunker surcharge of US$80 per TEU and US$160 per FEU and a peak season surcharge of US$200 per TEU and US$400 per FEU for South Africa bound cargo from August 1.