Container Lines to Cut Terminal Cost in China
Eleven container liner transportation companies have promised to cut or standardize the Terminal Handling Charges (THC) in order to lower nearly 3.5 billion yuan burden of export enterprises each year, according to National Development and Reform Commission (NDRC).
According to a report in Shanghai Daily, the shipping companies include China COSCO Shipping Cooperation, Maersk line, Mediterranean shipping, Hapag-Lloyd AG, Evergreen Marine, Hyundai Merchant Marine, Nippon Yusen Kaisha, Mitsui OSK Lines, Sinotrans Shipping.
These companies have written to the NDRC and Ministry of Transport promising in standardize THC by adjusting cost standard.
Chinese trading companies "reported" the excessively high and non-transparent surcharges to the NDRC. Shipping lines charge varied terminal handling fees depending on the loading and unloading costs at each port.
This move is expected to save more than $500m annually for the country’s traders. THC is the major surcharge of sea transportation that is collected from export enterprises by container liner transportation companies. The entire reform will lower the burden of export enterprises to a certain degree.