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AADA anounced rate restoration and peak season charges
POSTED: 9:04 a.m. EDT, May 9,2007
Member lines of the Asia Australia Discussion Agreement (AADA) have announced a "voluntary and non-binding" freight rate increase and a peak season surcharge to take effect from July 1 and August 15.
In a "notice to the trade", a "rate restoration" of US$350 per TEU and US$700 per FEU will take effect from July 1. An additional rate restoration of "not less than" than US$350 per TEU and US$700 per FEU will be in force from September 15 with the exact increase to be announced before August 15.
AADA member lines also intend to implement a peak season surcharge "in the range" of US$250 - US$350 per TEU when vessels reach a full load. The exact figure and date is to be announced.
Charges will apply to dry and reefer cargo from China, Hong Kong and Taiwan bound for Australia and will be levied in addition to prevailing market rates and subject to all ancillary charges applicable at the time of shipment.
AADA is a voluntary discussion agreement of 13 ocean carriers serving the trade from North and East Asia to destinations in Australia. Members include ANL, CSCL, Cosco, Hamburg Sud, Hanjin Shipping, Hyundai Merchant Marine, "K" Line, Maersk, MSC, MOL, NYK, OOCL and Gold Star Line. |
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