MEMBER CARRIERS of the Japan and Hong Kong-SA Shipping Conference (Jahosascon) have just agreed to a rate restoration of US$200 per twenty-foot equivalent unit (TEU) westbound from July 1. This is in addition to the just-announced port congestion surcharge. It will be US$400 per forty-foot equivalent unit (FEU) - including high-cube boxes - and will be US$10 per revenue ton for less-than-container load cargoes. While this has been approved by Jahosascon, the lines are hoping that a similar $200/per TEU will be approved for eastbound cargoes from the same date. Said the conference: “Having concluded that it will be difficult to continue providing stable services given the current level of freight rates, shipping companies operating container services from Japan and Hong Kong to SA have made the decision to attempt rate restoration.” The member lines are: Compania Sud Americana de Vapores (CSAV), Kawasaki Kisen Kaisha (“K” Line), Maersk Sealand, Malaysia International Shipping Corp. (MISC), Mitsui O.S.K.Lines (MOL), Nippon Yusen Kaisha (NYK), P&O Nedlloyd, and Safmarine Container Lines.
