Further to our earlier Newsflashes/Newsletters on rates applicable from Far East Asia to Australia, we are pleased to advised that our main carrier (COSCO) has extended their current rate levels until 31/12/16 without any increases. Some other lines have made some adjustments to rates for December shipments but most are minimal.
There is however talk of a further General Rate Increase being applied from 1st January 2017, this will be the last “money grab” by lines prior to Chinese New Year, and while we do not believe the GRI will be implemented at the advertised level of USD 500.00/20ft and USD 1000.00/40ft, there is the possibility of a mitigated increase being applied.
All vessels are departing at maximum capacity at present and this is expected to continue into the New Year as China factories try to move all possible cargo prior to the CNY close down. We expect lines will use this to their advantage during this period.
We shall keep you updated on developments as we approach the Xmas/New Year period, any rate adjustments that were made by lines for December shipment have all been updated to the GPSM rate module on our website.