United Arab Shipping, looking to bolster revenue amid signs of firming rates on east-west trade lanes, is imposing a peak season surcharge on cargo moving from Asia to North Europe effective Aug. 15, the Journal of Commerce reported.
The planned surcharge on dry and refrigerated cargo will be $250 per 20-foot container.
The planned surcharge on dry and refrigerated cargo will be $250 per 20-foot container.
UASC’s move follows a $150 per-TEU surcharge announcement by Israel-based Zim Integrated Shipping Services on Asia-Europe trade lanes, also slated to take effect Aug. 15.
The announcements came as rates on all four major east-west trade lanes expanded in the week ending Aug. 12, according to the SCFI Shanghai Containerized Freight Index. Spot rates from Asia to Europe have edged up 3.5 percent over the past month on the Shanghai Shipping Exchange's index, but at 828 the index was still very low by historical standards.
The announcements came as rates on all four major east-west trade lanes expanded in the week ending Aug. 12, according to the SCFI Shanghai Containerized Freight Index. Spot rates from Asia to Europe have edged up 3.5 percent over the past month on the Shanghai Shipping Exchange's index, but at 828 the index was still very low by historical standards.