United Arab Shipping Company (UASC) has imposed a peak season surcharge on cargo from Asia to North Europe from August 15, in a move to bolster revenue amid signs of firming rates on east-west trade lanes.
The surcharge of US$250 per TEU on dry and refrigerated cargo follows the $150 per TEU surcharge announced earlier by Israel-based Zim Integrated Shipping Services on Asia-Europe trade lanes effective August 15.
Both announcements were made after rates on all four major east-west trade lanes expanded in the week ending August 12, according to the Shanghai Containerised Freight Index (SCFI), reported Newark's Journal Commerce. Spot rates from Asia to Europe edged up 3.5 per cent over the past month on the Shanghai Shipping Exchange's index, but at 828 the index was still very low by historical standards, according to the online report. |
