Eurosal ups its European rates.

(From Lloyds List)

Byline: Shippers are told that rates will increase by $150 per teu starting from today, writes Rainbow Nelson in Santiago

AFTER the success in pushing up rates from the west coast of South America to Asia trade, the Eurosal consortium is pushing for increases on the European trade.

Hamburg Sud, one of four partners on the weekly service linking Chile, Peru, Ecuador and Colombia with the Caribbean and North Europe, has told shippers rates will increase by $150 per teu starting today.

The rate reflects the relative weakness of the European trades compared with Asia and the US east coast, where lines have been successful in pushing through rate increases of up to $300 per teu earlier this year.

Since then some shippers have reported further increases for eastbound cargoes leaving China. Jose Belmar, managing director of Chilean logistics specialist Magellan, said a 20 ft container leaving China for Chile was costing around $2,200 today compared to as little as $1,750 last October and more than a third higher than the rate of $1,500 per teu being paid for a box leaving Europe to Chile.

'China has an overflow of cargo that really two years ago nearly made the Chilean market collapse. There are still a lot of imports from China ...