General Rate Increase

Rate Restoration Program ex NWC & MED to Australia

At the end of September, Shipping Lines  will most likely uplift the peak season surcharge that became applicable in July.

All major Shipping Lines will also apply a General Rate Increase  (G.R.I.) applicable from 01.10.2016 as per official notices showing in the attachment.

The rate restoration program aims at proposing a more sustainable level of freight rates for ship owners who are struggling  to keep regular quality services ex North of  Europe and Mediterranean sea. This program will also affect relay services for cargo moving in transshipment via Far East, as well as all direct services.

As you will notice, each Shipping Line is expressing individually the level of increase they are going to apply and relay carriers such as Maersk, Yang Ming and UASC  are likely to follow on the same path with similar values.

At present our negotiation with major Shipping  Lines is in progress. We are trying to mitigate the impact of this increase on our current quotes as well as possibly obtain a standardized increase to conform the GRI applicable among all direct carriers and among all transshipment carriers.

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