Recently, CMA CGM, one of the top ten shipping companies in the world, stated that freight rates will not increase until February next year. Subsequently, Maersk and Hapag-Lloyd also followed suit and stated that there will be no increase. There are speculations in the industry that sea freight has risen to the end?
However, in a market environment where transportation capacity is insufficient and demand exceeds supply, it is unrealistic for shipping companies to make money without making money. Many foreign traders and freight forwarders predict that various surcharges will swarm.
The GRI from Asia to the east coast of South America is here
Hapag-Lloyd announced on the 16th Announcement, GRI will be levied on cargo transported in 20′ and 40′ dry cargo and refrigerated containers (including 40′ high containers) from East Asia to the east coast of South America. This GRI is effective from September 13, 2021.
The detailed information range of the GRI levy is as follows:
Asia to the east coast of South America: US$1,000/container
Asia to Brazil Suape Port (suape): US$2,000/container
43 containers were charged US$270,000 in demurrage
It is reported that recently, a US shipper named Eucatex North America Inc submitted a request to the US Federal Maritime The Commission (FMC) complained that CMA CGM and Fenix Marine Services had charged excessive demurrage charges for 43 of its containers.
The 43 containers were shipped under 4 separate bills of lading: the first bill of lading contained 13 containers; the second bill of lading contained another 13 containers; the third bill of lading The bill of lading contains 16 containers; the fourth bill of lading contains one container.
To pick up these 43 containers, Eucatex paid a total of US$271,015 in demurrage fees.
This batch of goods arrived in Long Beach in January and early February this year. One container in each batch of goods was detained by customs, so all containers under each bill of lading cannot be released.
Fenix took two to four weeks to transfer the first shipment to customs at the Centralized Checkpoint (CES), exhausting the shipper’s free period in the process (free time). Eucatex was unable to pick up the first batch of goods when it was released on February 5, so the pick-up time of the goods was postponed to February 10 to 12.
Fenix assessed demurrage for the first shipment at US$58,220, which Eucatex was forced to pay before receiving the goods.
One container of the second batch of goods was also detained by customs. It took Fenix 21 days to transfer the boxes to CES. The last free day was January 21, but customs released the goods on February 12. Eucatex took delivery of the cargo between February 15 and 17, and Fenix assessed demurrage at $94,065.
The situation of the third batch of goods is similar. Eucatex has a seven-day free period and there is also a container waiting for customs inspection. But this time Fenix failed to move the container within 25 days.
The cargo arrived at the port on February 19 and was finally released on March 22 due to delays in transportation and customs inspection. After paying $117,705 in demurrage, Eucatex took delivery of the goods on March 22 and 23.
The fourth batch of goods is a box, the situation is similar, and the demurrage fee is US$1,025.
When questioning delays in shipping containers to CES, Eucatex was informed that there was a severe shortage of chassis trucks at the port, which significantly delayed Fenix in submitting the containers for customs inspection.
Additionally, the shipper stated: “In or around March 2021, Eucatex attempted to discuss demurrage with Fenix and CMA CGM, with both parties claiming that the other party was responsible for assessing Eucatex’s demurrage. demurrage and free periods.” Eucatex also said it had sought detailed invoices showing how demurrage was assessed, but neither FMS nor CMA CGM provided them.
Maersk raised its profit forecast again
In addition, yesterday Maersk issued an announcement that it had once again raised its profit forecast. It is understood that this is the third time this year that Maersk has raised its full-year profit forecast.
Original version: EBITDA is expected to be US$8.5-10.5 billion, and EBIT is US$4.3-6.3 billion;
Upgraded in April: expected EBITDA is US$13-15 billion, EBIT is US$9-11 billion;
Upgraded in August: EBITDA is expected to be US$18-19.5 billion, EBIT is US$14-15.5 billion;
This increase: EBITDA is now expected to be US$22-23 billion, and EBIT is expected to be US$18-19 billion.
It has been raised three times in five months. It seems that we are really making money this year!
All of the above have led to increasing dissatisfaction with the shipping companies, but the liner companies are also “crying out injustice” loudly.
MSC CEO Søren Toft and Orient Overseas Deputy Chief Financial Officer Michael Fangio both said that the liner company has “done its best to meet market demand” “. Both believe that the current predicament cannot be solved in the short term and that only next year will the situation be expected to ease. </p
