The Democratic Socialist Republic of Sri Lanka has banned container shipping lines from charging terminal handling fees and other surcharges, following a similar decision by the People's Republic of Bangladesh.
"To prevent monopoly pricing in the shipping trade, no shipping line will be permitted to levy terminal handling and other charges in addition to freight and specified international charges for container cargo," Sri Lanka President Mahinda Rajapaksa, who is also finance minister.
Thus, Sri Lankan shippers will pay an all-in freight rate from January, nearly six years after their counterparts in Bangladesh implemented a similar measure, reports Lloyd's List.
Said Asian Shippers' Council chairman John Lu: "For too long we have to put up with multiple charges over and above our freight rates. Many were imposed on us without explanation or justification."
The decision responds to more than 10 years of lobbying from Sri Lanka Shippers' Council, which complained the industry practice of adding miscellaneous charges to freight rates creates trouble for its members, according to the Shipping Gazette.
"To prevent monopoly pricing in the shipping trade, no shipping line will be permitted to levy terminal handling and other charges in addition to freight and specified international charges for container cargo," Sri Lanka President Mahinda Rajapaksa, who is also finance minister.
Thus, Sri Lankan shippers will pay an all-in freight rate from January, nearly six years after their counterparts in Bangladesh implemented a similar measure, reports Lloyd's List.
Said Asian Shippers' Council chairman John Lu: "For too long we have to put up with multiple charges over and above our freight rates. Many were imposed on us without explanation or justification."
The decision responds to more than 10 years of lobbying from Sri Lanka Shippers' Council, which complained the industry practice of adding miscellaneous charges to freight rates creates trouble for its members, according to the Shipping Gazette.