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Posted on August 12, 2008

There has been a slight reduction in freight volumes from Asia to Northern Europe; in June 2008 there was a 0.48% reduction compared with last year.  For this reason, shipping lines have decided to postpone charging the Peak Season Surcharge.  This surcharge is recommended every year by the Far Eastern Freight Conference; usually shipping lines adhere to surcharges and rates recommended by the FEFC, but as volumes are dropping, they think that imposing a surcharge will depress volumes still further.  Some effect may be attributed to the Olympic games, as China has closed or re-located factories around Beijing in order to improve air quality for the athletes. The FEFC has not withdrawn its recommendation and is continuing to monitor the volume of freight being shipped; they have not withdrawn a PSS since October 2005.

 

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