Industry News

PROPOSED RATE RESTORATION (GRI) 1ST AUGUST 2018 - EX KOREA, CHINA, HONG KONG AND TAIWAN TO AUSTRALIA

Attachments: With this article are the following attachments

Attachment title here...

Attachment title here...

TCF have received advice from various shipping lines in the last few weeks that they are proposing to implement a Rate Restoration (RR/GRI) effective from sailings on / after 1st August 2018. 

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 fo 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 10.00 per w/m

20’:   USD 300.00

40’:   USD 600.00

At this moment, the market information we are recieving is that the full GRI amount will not be met across all trades with far lower increases expected. Southern China pricing however may be impacted harder than other markets due to smaller space allocations and an increase in bookings for the next few weeks of August. With increased capacity entering the market in Mid August, it is highly likely that any increases in the first half of August will be met with reduction in the later part of the month and into September.

As we have done previously, TCF and our partners will be monitoring the market situation closely and continuing our efforts to mitigate the FCL GRI levels. 

We appreciate your support and if you have any questions or require further information regarding this matter, please do not hesitate to contact your local sales or customer service representative.