Shippers Face Monthly Rate Hikes in Far East to Middle East, South Asia Trades
Shipping lines serving the trades from Asia to the Middle East and South Asia have announced guidelines of their rate restoration in the second half of 2010. The proposed rate hikes are as follows:
The Informal Rate Agreement (IRA) which serves the trade from Asia to the Middle East and Informal South Asia Agreement (ISAA) which covers the trade from the Far East to South Asia have announced guidelines of their respective rate restoration programs in the second half of 2010. The proposed rate hikes are as follows:
IRA
For shipments from Asia other than Japan to the Middle East:
- $150 per TEU, effective July 15
- $150 per TEU, effective August 1
- $150 per TEU, effective August 15
- $150 per TEU, effective September 1
- $150 per TEU, effective October 1
- $150 per TEU, effective November 1
- $150 per TEU, effective December 1
On top of these proposed restorations, a peak season surcharge of $200 per TEU will be implemented, effective July 1.
For shipments from Japan to the Middle East:
Contract Cargo:
- $250 per TEU, effective July 1
- $500 per TEU, effective October 1
Non-contract Cargo:
- $250 per TEU, effective July 1
- $150 per TEU, effective August 1
- $150 per TEU, effective September 1
- $250 per TEU, effective October 1
ISAA
For shipments from Asia other than Japan to South Asia:
- $150 per TEU, effective July 15
- $150 per TEU, effective August 1
- $150 per TEU, effective August 15
- $150 per TEU, effective September 1
- $150 per TEU, effective October 1
- $150 per TEU, effective November 1
- $150 per TEU, effective December 1
On top of these proposed restorations, a peak season surcharge of $150 per TEU will be implemented, effective July 1.