COSCO Container Lines would like to announce that a Cost Recovery Program (CRP) on services from Asia to the US will be launched from August 10th, 2009.
Since last year the freight rates in transpacific trade have been far below the level to cover the vessel operating cost and the situation is even deteriorated due to the recent soaring fuel price.
So it is necessary for the carrier to launch the Cost Recovery Program as a measure to maintain the stable and high quality service to customers.
According to the Program, all the cargoes moving to the US from the Far East and Indian Sub-continent area including Bangladesh, Brunei, Cambodia, China Mainland, China Hong Kong, India, Indonesia, Japan, Korea, China Macau, Malaysia, Myanmar, Pakistan, Philippines, Singapore, Sri Lanka, China Taiwan, Thailand, Vietnam will be charged with the CRP fee as following:
Per 20' Container: USD 400
Per 40' Container: USD 500
Per 40'HC Container: USD 563
Per 45' Container: USD 633
The CRP applies to all cargoes moving under tariff rates and Service Contracts.