Subscribe to RSS feedCarriers reduce free box detention time
by
Jim Wilson
—
last modified
Jul 31, 2012 01:37 PM
Shipping lines have announced a reduction in the time available before the shipping line will charge daily detention fees (known as “free container time”).
Photo - Shutterstock
From tomorrow, August 1, several shipping lines will reduce free container time from 10 days to seven days. Free container time will be deemed to begin running from the first day of availability.
“This will have an immense...
This full article is available to Lloyd's List DCN subscribers only.
If you are already a subscriber, please sign in below.
If you're not a subscriber and would like to experience the full benefits of Lloyd's List DCN with a 14 day trial, please click here.
Alternatively, click here to subscribe.
| Tweet |
Shipping Co's reduce container detention free time
The real fact is that shipping lines are not making money unless freight rates are high - therefore they look elsewhere for revenue. Even though the real cost is likely less than $1/day, the consignee gets hit for $40 to $130/TEU/day for a GP. Now the lines have cut the detention free period by 30% and increased rates by 25-31% in some cases.
On top of this, empty container parks are going to charge a dehire booking fee - similar to a wharf time slot. These extra changes will really put the squeeze on importers & transport operators, as they try to dehire before the shipping lines start charging. Does that mean the shipping lines will now have the money to pay the ECPs to stay open on weekends?