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OOCL is the latest container shipping line to announce a peak season surcharge for shipments in the run up to Chinese New Year.
The Hong Kong-based line will levy an additional US$450 per TEU on all shipments from Asia to Europe from January 8. It covers shipments from Asia (excluding Japan), India Sub-Continent and Middle East to North Europe, Mediterranean and the Black Sea.
French line CMA-CGM announced its plans to implement a peak season surcharge of $300 per TEU and $600 per FEU from January 6 on the Asia-Europe trades.
The decision to implement peak season surcharges outside the traditional Christmas season is an indication of the changing nature of the shipping business. With no real spike in demand between August and November, the carriers are searching for other busy periods in which to improve revenue and Chinese New Year is the obvious choice.
The January run-up to Chinese New Year that begins on January 30 this year is a busy shipping season. Shippers always scramble to get orders completed and delivered before the factories in China shut down, sometimes for as long as three weeks.
But the decision to impose a peak season surcharge suggests that carriers expect weak demand to resume after a brief spike in January. Rather than imposing surcharges, shipping lines generally prefer to use busy periods outside the traditional peak Christmas season to implement GRIs that can drive up freight rates.
Cargonews Asia
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