The Shanghai Shipping Exchange’s Shanghai Containerized Freight Index surged 36.7 percent since last week’s reading to a reading of 752.65, with rates on the Shanghai to Northwest Europe trade jumping 77.4 percent to $1,206 per TEU.
The shipper advocacy group said some carriers and other service providers to the shipping industry appear to be exploiting the new new verified gross mass rule by imposing exorbitant and unjustified charges for ‘administration fees’ and other ‘services.’
An American Shipper poll of shippers and forwarders revealed that nearly 90 percent believe at least some cargo will be delayed by the verified gross mass rule that went into effect globally today.
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Federal Maritime Commission Chairman Mario Cordero said one of the items that has been on his agenda since becoming chairman in 2013 is to have a better funded and better resourced Federal Maritime Commission.
An American Shipper report released Tuesday found that nearly three-quarters of shippers and forwarders believe they will have containers held when the new verified gross mass mandate kicks in July 1.
Rates from Shanghai to North Europe and the Mediterranean fell 13 percent and 13.2 percent, respectively, since last week, but several major ocean carriers plan to increase rates on these trades in the coming weeks.