Special rate increase inbound cargoes from Xingang, Qingdao

Since the inauguration of liner service between China and Korea, The Yellow Sea Liner’s Committee have made a contribution to promote the trade between two countries by providing the trade with a lot more vessels, expansion of port coverage and also with a increased frequency.

However, due to slow-down of volume increase this year and a increased vessel capacity in the trade, ocean freights have been brought down to the level that would threaten the survival of the carriers involved in the trade.

Accordingly, the full container shipping lines serving China/Korea/China routes wish to advise all customers that they are to implement US $50 per TEU increase on top of the current rate just for the cargoes ex Xingang and Qingdao bound for Korea as of Dec. 1, 2001 where enough container volume for Korea is available for carriers and recently shows empty container shortage for cargoes.