NOTIFICATIONS of new rises in freight rates and surcharges have slowed to a dribble as figures indicate peak import season from China in particular has passed.
After peaking at USD 4536/FEU in the second week of September, as recorded by the Shanghai Containerised Freight Index for spot rates between Shanghai and Melbourne, the level fell marginally to USD 4534 in Week Three, then to USD 44386 in Week Four and more substantially to USD 4016/FEU last week.
The wave of extra-loaders from China, and separately from South East Asia, has now mostly washed through Australian ports and it appears at least two carriers have cancelled additional sailings. Nevertheless, rates ex SEA to Fremantle remain particularly strong in the wake of MSC’s withdrawal of Capricorn and Kiwi Express service and a backlog of rollover cargo in SEA hubs.
Last week’s Drewry World Container Index recorded another fall, decreasing 5% to USD 3849/FEU container for the week of 3 October, driven by conditions in east-west trades. That was the fifth consecutive weekly fall.
In recent notifications:
ANL Container Line has announced a Peak Season Surcharge will apply to all shipments from Oceania to USA, Canada & French Polynesia via the PCX service, effective 1 November 2024.
The PSS will be USD 300 per 20’ Dry/Open Top/Flat Rack container; USD $600 per 40’ Dry/Open Top/Flat Rack container; USD 500 per 20’ Refrigerated container; and USD 1000 per 40’ Refrigerated container.
OOCL will review Container Free Time & Charges, effective 1 November. Details here.
Hapag-Lloyd has announced an increase in terminal handling charges for Auckland, NZ. Details are available here.
A number of lines issued notices of force majeure or emergency service disruption surcharges in relation to the ILA strike at US East Coast and Gulf ports, that began on 1 October but was temporarily called off (until next year) two days later. MSC has now advised its Emergency Operations Surcharge will no longer proceed, nor will Maersk’s Port Disruption Surcharge
