Cosco ups rates to Red Sea US$300/TEU, Persian Gulf $500/TEU from March

CHINA`s largest carrier Cosco Container Lines has announced it will increase freight rates by US$300 per TEU for Far East-Red Sea services and $500 TEU for Far East-Persian Gulf loops from March 1.

The increases are applicable to shipments from mainland China, Hong Kong, Taiwan, Macao, the Philippines, Vietnam, Thailand, Malaysia, Singapore, Indonesia, Korea, Brunei, Cambodia, Myanmar and Bangladesh