Industry News

PROPOSED RATE RESTORATION (GRI) 15TH OCTOBER 2019 - EX KOREA, CHINA, HONG KONG AND TAIWAN TO AUSTRALIA

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TCF have received advice from various shipping lines that they are proposing to implement a Rate Restoration (RR/GRI) effective from sailings on / after 15th October 2019.

This increase would apply to all imports from Korea, China, Hong Kong and Taiwan to Australia Trade. Please find attached an example of this notice from one of the carriers. 

Should the proposed increase go ahead, the GRI increases/surcharges will be levied as follows, including LCL increases as listed below: 

LCL: USD 12.00 per w/m

20’:   USD 300.00

40’:   USD 600.00

TCF and our Partners will be monitoring the market situation over the coming weeks and continuing our efforts to mitigate the GRI Levels. As was the case with the July and September GRI's, which were not passed on in full by the carriers, TCF will communicate any increases directly that do come into effect after the 15th of October.

It is important to note that "Blank Sailings" and the coming China Holiday may have a bigger impact on increased pricing in October than the last 2-3 months.

Should you have any questions or require further information regarding this matter, please do not hesitate to contact your locals sales or customer service representative.