AADA announces rate increase of US$350 per TEU from Sept 1

The Asia Australia Discussion Agreement (AADA) will levy an increase of US$350 per TEU and $700 per FEU for both dry and refrigerated cargo in the base ocean freight from September 1.

In order to maintain a high standard of service, the participating member lines of AADA (Asia Australia Discussion Agreement) will be implementing a rate restoration programme to all their customers in China and Hong Kong, said a statement from the group.

All outbound shipments from China and Hong Kong to ports in Australia will have the increase applied, said the AADA. This 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, said the group.

Recently the AADA announced an increase in the bunker surcharge for freight transported from China and Hong Kong to ports in Australia from August 8. The surcharge level was adjusted to US$650 per TEU and $1,300 per FEU for dry and refrigerated containers.

AADA members are ANL Singapore Pte Ltd, China Shipping Container Line (HK), Cosco Container Line, Hamburg Sud, Hanjin Shipping, HMM, K Line, Maersk Line, MSC, MOL, NYK Line, OOCL, Gold Star Line (HK) and Zim.