Seven more lines agree to lower terminal handling charges in China

The seven lines are Orient Overseas Container Lines (OOCL), Yang Ming Marine Transport Corp, Wan Hai Lines, Pacific International Lines (PIL), Kawasaki Kisen Kaisha (K Line), Zim International Shipping Lines, and United Arab Shipping Company (UASC).

Earlier this month, the 11 lines that agreed to lower their terminal handling charges are Maersk Line, Mediterranean Shipping Company (MSC), CMA CGM, APL, Hapag-Lloyd, Evergreen Marine, Hyundai Merchant Marine (HMM), Nippon Yusen Kaisha (NYK), Mitsui OSK Lines (MOL), Sinotrans Shipping, and Cosco Shipping Lines.

The NDRC said the rates reduction made by a total of 18 lines would reduce the cost burden on import and export enterprises by around RMB4.6bn ($669.7m) a year.

The reduced rates rates of the latest batch of seven shipping lines are:

OOCL – RMB553 per teu, down from RMB633 per teu;

Yang Ming – RMB593 per teu, down from RMB675 per teu;

Wan Hai – RMB580 per teu, down from RMB682 per teu;

PIL – RMB585 per teu, down from RMB661 per teu;

K Line – RMB594 per teu, down from RMB684 per teu;

Zim – RMB604 per teu, down from RMB731 per teu;

UASC – RMB582 per teu, down from RMB682 per teu.