FREIGHT RATES on the China-Australia route reversed direction this week, after steadily falling since the last week of January.
The Shanghai Containerised Freight Index for spot rates had dived from US$4,294/FEU in the second week of January to US$1258/FEU in the second week of March, but average quotes for the period 17-23 March (Week 12) sat at US$1,470/FEU.
While it’s too soon to say whether this is the beginning of a sustained recovery (for carriers) or first signs of a bounce following the usual post-Lunar New Year cliff there will be some optimism recent GRIs and rate restorations are taking effect.
“Last year carriers panicked and settled contracts with key accounts at unrealistically low levels, fearing a recession, and were so much more dependent on spot rates to fill the coffers,” DCN was told. “This year those major client deals have almost doubled in some cases and BCOs were almost falling over themselves to sign up, we hear.”
The torrent of notifications has reduced to a drip-feed, although since our last check-in a couple of advisories have been distributed:
COSCO Shipping Line will implement a rate restoration in full on top of existing ongoing market rates and which will be subject to accessorial surcharges on its southbound Northeast Asia to Australia services of USD 300/TEU, USD 600/FEU, effective for all Bills of Lading dated 1 April 2025 onwards. The same RR will apply to all shipments from South East Asia to Australia, on the same date. The latest increases replicate those announced for both trades from 15 March.
Hapag-Lloyd has just announced it has cancelled, from 6 March, the Congestion Surcharge (CGD) levied from all origins in Europe and Asia & Oceania (except China) to South Africa. Local points of origin covered by this are Australia, Cook Islands, Fiji, Micronesia, New Caledonia, New Zealand, French Polynesia, Papua New Guinea, Solomon Islands, Tonga, Vanuatu, and Wallis and Futuna Island.
Separately, ANL Container Line has announced “as part of our commitment to enhancing service efficiency and embracing digital solutions, we are transitioning away from front counter pickups for Original Bill of Lading (OBL).
Starting 1 May 2025, OBLs will be available through our free online printing service or via paperless eBL solutions on My ANL & My CMA CGM providing you with a faster, more convenient, and environmentally friendly way to manage your shipments.
“To support this transition, we encourage all customers to adopt digital solutions early. For those who still require a physical OBL for collection or postal delivery, a manual processing fee of $100 (AUD/NZD) will apply from 1May 2025.”
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