COSCO Container Lines has announced a rate increase for southbound cargo from mainland China, Hong Kong, Taiwan, Japan and Korea to Australia of US$300/TEU, $600/FEU and 40-foot high cube from August 1 as well as a peak season surcharge of $250/TEU, $500/FEU, $500/40'HC from August 15.

Cosco will also apply an emergency bunker surcharge of $80/TEU and $160/FEU and a peak season surcharge of $200/TEU and $400/FEU for South Africa bound cargo from August 1, HKSG reported, citing a company statement.

Also there will be an emergency bunker surcharge of $80/TEU and $160/FEU from August 1 and a peak season surcharge of $500/TEU, $1,000/FEU and 40'HC from August 15 for cargo bound for the South American east coast, said a company statement.

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