COSCO has raised freight rates on many routes since April

COSCO has announced that it will adjust the sea freight rates for the following routes from April 1, 2012:

(1) East bound freight rates for northwest Europe and the Mediterranean (including Israel, Lebanon, Syria, North Africa and the Black Sea) to the Far East (including Japan) and the Indian subcontinent

$150 per 20 ft TEU and $300 per 40 ft TEU.

(2) European South America east route (ESE) southbound goods implemented uniform tariff increase:

150 euro per 20 foot TEUs and 300 euro per 40 foot TEUs.

(3) The increase of uniform freight rate of westbound goods (including cold box) on the routes from the Far East (including Japan) and the Indian subcontinent to northwest Europe and the Mediterranean (including Israel, Lebanon, Syria, North Africa and the Black Sea) is as follows:

$700 per 20 foot TEUs.