Asia (North & South East Asia incl India) - October update

Further to our two recent market updates (Asia - 8th Sept | Sth East Asia  - 14th Sept) please take note of the below ;

India update

As you may know there is a military stand-off and tension on the border between India and China which is affecting trade. Currently thousands of Chinese import containers are not customs cleared to enter India. This political situation is stopping the flow of equipment causing heavy congestion and imbalance of import and subsequent exports. Most lines have equipment but due to these shortages lines are prioritising the highest paying contribution to secure bookings, equipment release and vessel space. Covid19  restrictions are compounding issues within the supply chain across CFS, Customs, Transport and forwarding operations. This Indian situation is unlikely to be resolved or improve anytime soon.

Effective 1st October 2020

Indian port FCL rates    quoted as applicable to secure space and equipment (case by case)
Indian LCL rates            priority surcharge will be added to freight rates for all Indian ports @ US$ 10 cbm (until further notice)


South East Asia – October GRI & BAF

Due to continuing equipment shortages and space on vessels the shipping lines have advised of a GRI effective 1st October 2020. As such Mondiale will recover this quantum as levied by the shipping lines (currently between US$ 150-250 per TEU) on FCL shipments. 

Effective 1st October 2020 from South East Asia (including Taiwan and Korea)

LCL GRI            US$ 8.00 per w|m
LCL BAF            US$ 1.00 per w|m
 

China and North East Asia update

Continuing unprecedented global demand are still creating equipment shortages and are compounding intense capacity constraints. Despite the recent introduction of a Cosco monthly extra loader demand far exceeds supply. Again shipping lines have advised us of a GRI effective 1st October 2020. As such Mondiale will recover this quantum as levied by the shipping lines (currently US$ 200-300 per TEU) on FCL shipments. 

Effective 1st  October 2020 from China & Hong Kong

LCL GRI             US$ 8.00 per w|m
LCL BAF             US$ 1.00 per w|m


Please don’t hesitate to contact your Mondiale representative for further information.

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