BULLETIN : CHINA GOLDEN WEEK + OCEANFREIGHT GRI NORTH AND SOUTH ASIA : USA
Chinese National Day
Chinese National Day is celebrated on October 1st each year to commemorate the founding of People’s Republic of China.
The holiday period extending for 1 week is referred to as Golden Week ranging from 1st October to 7th October.
2018 Chinese National Day Holiday Schedule
| Oct. 1 (Mon) |
Oct. 2 (Tue) |
Oct. 3 (Wed) |
Oct. 4 (Thu) |
Oct. 5 (Fri) |
Oct. 6 (Sat) |
Oct. 7 (Sun) |
| 3 days national holiday | Deferred holidays for Sep. 29 (Sat) and Sep. 30 (Sun) | normal weekend | ||||
October 1st 1949 was the memorial day for the founding of the People’s Republic of China. The PRC was not founded on that day and the Chinese independence day was September 21st 1949. The grand ceremony held at Tiananmen Square on October 1st 1949 was to celebrate the forming of the Central People’s Government of the brand new country. Later on October 2nd 1949, the new government passed the ‘Resolution on the National Day of the People’s Republic of China’ and declared October 1 to be the Chinese National Day. Since 1950 each October 1st has been celebrated by Chinese people.
The attached shipping schedule shows milestone data pertinent to this period.
Each year this coincides with an increase in carrier bookings and it has become a somewhat established pattern that a corresponding price increase is employed by shipping lines as China exports begin to gain momentum thereafter.
General Rate Increase ( GRI ) NORTH /NORTH EAST ASIA: Effective 15.10.18
LCL : USD 12.00 PER CBM
20 GP : USD 300.00 PER TEU
40 GP : USD 600.00 PER FEU
Capacity in South east Asia remains highly contested. Increased volumes from this area, coupled with negative effects from vessel breakdowns and typhoon delays have continued to apply pressure on this route. Connection delays have been seen in Singapore with some carriers. We have received notices of rate increases on this route effective 1st October 2018.
General Rate Increase ( GRI ) SOUTH & SOUTH EAST ASIA/INDIAN SUBCONTINENT : Effective 01.10.18
LCL : USD 8.00 PER CBM
20 GP : USD 200.00 PER TEU
40 GP : USD 400.00 PER FEU
USA
Robust volumes and increasing bunker prices will see rates from USA to Aus and NZLD increase from some carriers on 1st October with others implementing increases from 15th Ocotber . The quantums on this route vary beteen each carrier. A net effect between USD 100 and USD 150 per teu seems to cover the average window of increase . This will translate to approximately USD 6.00 to USD 8.00 per LCL w/m.We shall only pass on the costs required based on the shipment and carrier implemented at time of ETD.
Should you have any queries based on the above subject matter I encourage you to contact our office direct for clarity.
All business is subject to the standard trading terms and conditions of Specific Freight Pty Ltd which can be viewed at www.specificfreight.com.au or available on request
OCTOBER HOLIDAYS SPREADSHEET : OCTOBER 2018 CHINA HOLIDAYS