COSCO Container Lines announced it will institute a fuel adjustment factor (FAF) on the Far East to the Red Sea, Gulf and India Sub-Continent trade lanes from February 1 to February 29, 2012.
The Far East includes China, Hong Kong, Taiwan, Macao, Philippines, Vietnam, Thailand, Malaysia, Singapore, Indonesia, Korea, Brunei, Cambodia, Myanmar and Bangladesh, COSCO said in a media release.
The Indian Sub-continent includes India and Pakistan.
The Persian Gulf consists of Iran, Iraq, Kuwait, Saudi Arabia (Persian Gulf Coastal), Bahrain, Qatar, United Arab Emirates and Oman, while the Red Sea covers Saudi Arabia (Red Sea Coastal), Yemen, Jordan, Egypt and Sudan.
The revised FAFs for the Far East-Persian Gulf (except Japan) and India Sub-Continent loops are US$472 per 20-foot equivalent unit (TEU) of container and $944 per 40-foot equivalent unit (FEU).
From Japan to the Persian Gulf and India Sub-Continent, the FAFs are $360 per TEU and $720 per FEU.
The Far East (including Japan)-Red Sea route will have FAFs of $631 per TEU and $1,262 per FEU.
Photo courtesy of COSCO
