THE SHARP DOWNTURN in Asia-Australia rates, more dramatic from North & East Asia than from South East Asia, has prompted more leading lines to hit the ‘restoration’ button, mostly from 1 March.
DCN last week reported rate indexes showing disturbing falls approaching and post Lunar New Year – disturbing for carriers but maybe for shippers too, given the inevitable bounce back that will follow.
COSCO Shipping Line has announced it 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 services from Northeast Asia to all ports and points in Australia. The quantum will be USD 200/TEU, USD 400/FEU effective for all Bills of Lading dated 1 March 2025 onwards.
Similarly COSCO will apply a rate restoration on all southbound shipments from Southeast Asia to all ports and points in Australia, also at USD 200/TEU, USD 400/FEU and also effective 1 March.
Meanwhile, MSC has announced a revised rate restoration for all cargo from China, Hong Kong, Japan, Korea, Taiwan, Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam to Australia, at USD 500/TEU. This is double the level previously advised.
Hapag-Lloyd has announced two 1 March increases, one inbound and one outbound.
The southbound GRI applies to all cargo from Asia to Oceania and all types of containers, at a rate of USD 300/TEU. The scope is as follows: Brunei, Cambodia, China, Hong Kong, Indonesia, Japan, Korea, Laos, Macau, Malaysia, Myanmar, Philippines, Singapore, Taiwan, Thailand and Vietnam, to Australia, Cook Islands, Fiji, Micronesia, New Caledonia, New Zealand, French Polynesia, Papua New Guinea, Solomon Islands, Tonga, Vanuatu, Wallis and Futuna Island.
The northbound GRI, of the same quantum, applies to all exports from Brunei, Cambodia, China, Hong Kong, Indonesia, Japan, Korea, Laos, Macau, Malaysia, Myanmar, Philippines, Singapore, Taiwan, Thailand, Vietnam, Australia, Cook Islands, Fiji, Micronesia, New Caledonia, New Zealand, French Polynesia, Papua New Guinea, Solomon Islands, Tonga, Vanuatu, Wallis and Futuna Island to Indian Subcontintent & Middle East, i.e. India, Pakistan, Bangladesh, Sri Lanka, UAE, Qatar, Bahrain, Oman, Kuwait, Iraq, Saudi Arabia & Jordan.
On the surcharge front, Maersk Line has notified of revised Equipment Positioning Service – Export and Equipment Positioning Service – Import tariffs for Devonport, Brisbane, Fremantle, Melbourne and New Zealand via Auckland, Auckland Metroport, Tauranga, Lyttelton to/from the world with effective from 27 February 2025 for Regulated Countries and 1 February 2025 for Non-Regulated Countries.
On an identical basis Maersk is revising its Vehicle Booking Service fees – Export, and Import. Details of the levels of these four charges can be found at Rate announcements | News & Advisories | Maersk
Finally, ANL & CMA CGM New Zealand will be introducing a new charge related to late payments, effective from 1 March 2025.
For our cash customers, please be aware of the following late payment fees:
– Payments overdue by more than 10 calendar days will incur a fee of NZD 70.
These late payment fees will apply to both export and import invoices that are not settled within the agreed terms.
“If you are a cash customer and exceed the agreed terms of payment as of 1 March, the late payment fee will be applied to your account. In addition, please note that export Bills of Lading or Import Delivery Orders will only be provided once the original invoice and any applicable late fee charges have been paid in full,” the lines said.
