Container shipping freight rates to rise
18 Jan 2010
Container shipping freight rates on most routes are set to rise with shipping lines announcing various hikes effective from mid-January and February, analysts and brokers said. “Despite weak demand for ships, the shipping lines
declared freight hikes to earn more from whatever cargo is available now,” said Kishore Parekh, overseas freight broker, Pitamber Laljee & Sons.
Container and dry break-bulk freight rates have stayed unchanged since a week, amid thin demand for ships, tracking poor export and import, but may rise due to the new hikes, said K Suryanarayan, analyst, freight forwarding company, S R Maritime.
Cosco Container Lines has announced Currency Adjustment Factor (CAF) and Bunker Adjustment Factor (BAF) from February. CAF will be at 15.24% of the freight for east and westbound cargo from Far East, including Japan and the Indian subcontinent, to North-west Europe and Lebanon, Syria, Black Sea ports and west and North Africa.
BAF will be applied on east- and west-bound shipments from Far East, including Japan and India, to Europe and the Mediterranean from February 1 at $500 per 20-foot equivalent unit (TEU) and $1,000 per 40-foot equivalent unit (FEU).
Between India and North-west Europe and the Mediterranean, BAF will be $300 per TEU and $600 per FEU.
Maersk Line will increase rates on west-bound cargo from south Asia and west Asia to North Europe and the Mediterranean by $300 per TEU and by $600 per FEU from February 1.
Hapag-Lloyd will increase rates for all cargoes shipped within east Asia (except from/to Japan) by $50 per TEU from Friday.
It will also revise upward the hazardous/dangerous cargo surcharge for inland haulage under carrier arrangement within Great Britain (including Northern Ireland) by £ 40 per TEU from February 5.
The Mediterranean Shipping Company (MSC) has announced a bunker surcharge on west-bound exports from February 1 at $505 per TEU on all cargo from Asia bound for the Red Sea, the Mediterranean, Black Sea ports, northern Africa, northern Europe, Scandinavia and the Baltic.
MSC has also announced a rate restoration on India to north Europe, the UK, west and east Mediterranean, and Black Sea trades, at $200 per TEU, effective from February 1.
Source: DNA India
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