Asian Shipping Lines Cut Fees

By Finance

Asian shipping lines including Japan’s Kawasaki Kisen Kaisha ("K" Line) and China Shipping Container Lines (CSCL)have voluntarily lowered shipping surcharges, China’s top economic planner said on Monday.

The statement by the National Development and Reform Commission (NDRC) comes after China’s cabinet last month said it was probing shipping firms over allegations that they have been levying arbitrary and excessive charges.

The NDRC said Korea’s Hanjin Shipping and Hyundai Merchant Marine as well as Taiwan’s Evergreen MarineWan Hai Lines and Yang Ming Marine Transport Corp were among the firms reducing their surcharges. Japan’s NYK had adjusted its fees on September 15, it added.

The NDRC said the companies would undertake measures such as cancelling fees for some services and lowering documentation and telex release fees.

Source: af.reuters.com