|As the current downturn in the world economy is easing and the lines have taken |
measures to reduce the impact of the slowturn, we are now beginning the see the rates being slowly restored.
All the lines are currently reporting reduced demand and a softening in the market causing the erosion of rate levels.
The most significant indicator on the rates side this year is the waiving of the Peak Season Surcharge (PSS).
Significantly too is the fact MSC have also waived their Heavyweight Surcharge and are offering to fix rates.
All this is caused by the softening of the market in the Far East Westbound trade due to reduced demand. Initial indications are that rates will remain stable or maybe reduce.
Currency Adjustment Factor (CAF) and Bunker Adjustment Factor (BAF)continue to be incorporated into all base rates, with one all in figure now becoming the norm.
Gulf of Aden and Suez surcharges remain unchanged.