Industry News

PROPOSED RATE RESTORATION (GRI) 1ST JULY 2019 - EX KOREA, CHINA, HONG KONG AND TAIWAN TO AUSTRALIA

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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 July 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

At this moment, the market information we are recieving is that the full GRI amount is likely to be achieved across all trades as carriers announce in the coming weeks the suspension of a number of vessels on the trade in order to reduce capacity and increase demand for space. As has been the case in previous years, Southern China pricing may be impacted harder than other markets due to smaller space allocations during Peak Season and the reduction in capacity.

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.