Dubai Ports announces rate restoration programme

A surge in the cargo traveling from Southeast Asia to the Middle East has caused shipping lines calling upon Dubai Ports to announce a rate restoration programme starting from June 1.

As these routes were not included in the rate increases that affected Japan and the Gulf earlier in the year, the move came as a surprise to shippers with the decision being made only in April.

According to the new decision the member line of the Informal Rate Agreement covering trades from the Far East to destinations in the Middle East have hiked rates by US$ 100 for all equipment types from North Asia origins including Korea, China, Hong Kong and Taiwan. Rates have leapt $50 from all other Far Eastern origins including Singapore, Malaysia, Thailand and Indonesia. Currently the rates on this route stand at $5550 per TEU  and $ 1,000 per FEU.

posted 24^th June 2002

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