THE Asia Australia Discussion Agreement (AADA) will levy rate increase from July 15 on cargo from mainland China and Hong Kong to Australia, reports Shipspotting.com.
Freight rates will increase US$250 per TEU and US$500 FEU for both dry and refrigerated cargo, said the AADA statement. The increase will apply in full on top of existing ongoing market rates and will be subject to accessorial surcharges applicable at the time of shipment, the statement said.
AADA members include ANL, CSCL, Cosco, Hamburg Sud, Hanjin, Hapag-Lloyd, Hyundai Merchant Marine, "K" Line, Maersk, MSC, MOL, NYK and OOCL.