Eleven international major carriers have complied with Chinese authorities’ request to lower terminal handling charges so as to reflect the present market conditions, and potentially allow the import and export enterprises to save around RMB3.5bn ($508m).
The 11 lines include Maersk Line, Mediterranean Shipping Company (MSC), CMA CGM, APL, Hapag-Lloyd, Evergreen Marine, Hyundai Merchant Marine (HMM), Nippon Yusen Kaisha (NYK), Mitsui OSK Lines (MOL), Sinotrans Shipping, and Cosco Shipping Lines.
The move to reduce terminal handling charges followed requests made by China’s National Development and Reform Commission and the Ministry of Transport.
“The terminal handing charges are a major component of income for container lines. According to the rates reduction made by the 11 lines, the cost burden on import and export enterprises can be reduced by around RMB3.5bn a year,” said NRDC said.
The rates reduction made by each of the shipping lines are: Maersk Line – RMB566 per teu, down from RMB681 per teu;
MSC – RMB503 per teu, down from RMB644 per teu; CMA CGM – RMB560 per teu, down from RMB695 per teu; Cosco Shipping Lines – RMB596 per teu, down from RMB717 per teu; APL – RMB576 per teu, down from RMB676 per teu; Hapag-Lloyd – RMB607 per teu, down from RMB696 per teu; Evergreen Marine – RMB542 per teu, down from RMB639 per teu; HMM – RMB592 per teu, down from RMB706 per teu; NYK – RMB577 per teu, down from RMB711 per teu; MOL – RMB564 per teu, down from RMB678 per teu; Sinotrans Shipping – RMB575 per teu, down from RMB664 per teu.
“The NRDC and Ministry of Transport urged international container lines to operate in accordance to the local laws, and to voluntarily adjust rates so as to promote a self-regulatory business environment and a healthy development of the shipping market,” the NRDC stated.