Industry News

PROPOSED RATE RESTORATION (GRI) 21 MAY 2023 - EX KOREA, CHINA, HONG KONG AND TAIWAN TO AUSTRALIA

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TCF have received advice in the last week from most of the shipping lines, that they are proposing to implement a Rate Restoration (RR/GRI) effective from sailings on and after the 21st May 2023.

This increase would apply to all imports from ports in Korea, China, Hong Kong, Japan and Taiwan to Australia base ports.

Please find attached examples in the links above from two of the key carriers operating within this trade.

With the rapid reductions in FCL pricing over the last 12 months down to record lows, the carriers have now moved on their threats of blank or cancelled sailings, smaller vessels and bypassing ports in the rotation in an effort to reduce the capacity and increase the pricing on the available services.

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 RR/GRI go ahead as expected, the increases/surcharges will be levied as follows. Pricing increases will be adjusted should the full proposed GRI not be implemented: 

LCL: USD 10.00 per w/m

20’:   USD 250.00

40’:   USD 500.00

TCF will monitor the situation and provide further details should there be any changes or amendments in the coming week(s).

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