Industry News

PROPOSED RATE RESTORATION (GRI) 1ST SEPTEMBER 2020 - EX KOREA, CHINA, HONG KONG, JAPAN AND TAIWAN TO AUSTRALIA

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TCF have received advice from various shipping lines in the last few days that they are proposing to implement a Rate Restoration (RR/GRI) effective from sailings on / after 1st September 2020.

This increase would apply to all imports from Korea, China, Hong Kong, Japan and Taiwan to Australia Trade. Please find attached examples of these notices from ANL CMA and Hamburg Sud. 

As Reported in June and July, pricing increases have now seen FAK freight rates increase to levels not seen at this time of the year previously and with the traditional Peak Season period upon us the expectation is that pricing will continue to rise over the next 2-3 months.

The level of GRI for September currently advertised varies somewhat between carriers, so we will montitor the pricing fluctuations closer to the start date of 1 September. 

Please contact your TCF representative for further information and clarification on what carrier changes and capacity issues may affect your regular shipments and services. 

Should the proposed increase go ahead, the GRI increases/surcharges will be levied as follows, including LCL increases as listed below. Pricing increases will be adjusted should the full proposed GRI not be implemented: 

LCL: USD 12.00 per w/m

20’:   USD 300.00

40’:   USD 600.00

Should you have any questions or require further information relating to this subject, please contact your local sales or customer service representative.