China-Australia AADA rates to increase US$300/TEU from November 17

THE Asia Australia Discussion Agreement (AADA) quasi-conference of carriers will increase rates US$300 per TEU and US$600 per FEU on all cargo from Hong Kong and mainland China to Australia from November 17.

"This increase will apply in full on top of existing ongoing market rates and will be subject to accessorial surcharges applicable at the time of shipment," said the AADA statement.

AADA members are ANL Singapore, China Shipping (HK), Cosco, Hamburg Sud, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine, "K" Line, Maersk, MSC, MOL Line, NYK and OOCL.