As some of you may have read in various media publications, the ACCC has launched an investigation into shipping rates. This is a positive step, how far it goes, will be interesting. As the ACCC traditionally have had little power to act over International Shipping Companies. At best, it should make the ocean carriers consider the impact the current rate structures are having both on import and export cargo.Should you have a subscription to "THE AUSTRALIAN", you can read the article here. https://www.theaustralian.com.au/business/accc-investigating-soaring-covidlinked-shipping-and-container-costs/news-story/e7377151a51b2def5c1afc1a62b5986e
As part of the ACCC investigation, they are keen to hear from YOU. To do this, you can lodge feedback with our industry body IFCBAA (international Forwarders & Customs Brokers Association of Australia). Below is a snippet from the IFCBAA letter with contact details. The ACCC is interested in receiving details where unacceptable actions outlined in the IFCBAA submission Competition Issues in Connection with Ocean Carriage of Containerised Cargo have occurred. To that end, IFCBAA requests members to please submit examples of instances to Stuart McFarlane, Air & Sea Freight Forwarding Manager, IFCBAA – email@example.com
The information will be provided to the ACCC on a confidential basis.
CMA-CGM GROUP (ANL) TO STOP SPOT RATE INCREASES.
Prior to the ACCC announcement, CMA-CGM (third largest ocean carrier gloablly) announced it was putting a STOP to rate increases effective immediately, worldwide. See their announcement on the last page of this newsletter. No other ocean carrier has joined CMA-CGM yet, hopefully they do. SHIPPING RATES Still trying to understand what is occurring globally in shipping and the impacts causing the issues? Global consulting firm McKinsey and Co have put together this 10 min video. It’s a couple of months old, but it is still very relevant and worth the viewing. What's Going on with Shipping Rates?
China booking space is out to 3-4 weeks in advance. Yes, there is some spot capacity still available, but many carriers are now reporting full booking slots, weeks in advance of sailings.
Please continue to push your suppliers to book well in advance. Anything under 14 x days is near impossible to gain space for.
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